QCP Capital: As the current market volatility continues to decrease, companies may choose to hold Bitcoin reserves to provide the market with new structural buying pressure.

May 28th. QCP Capital made a post on its official channel, indicating that the volatility of the majority of asset classes continues to decrease. Owing to the absence of significant news flows and macroeconomic data, the market has entered a period of tranquility. Although there is continuous news, the market appears to be increasingly insensitive to negative news. Headlines that could have previously triggered strong reactions are now casually ignored. The U.S. Treasury yields have slightly retracted after the so-called "grand and beautiful bill" caused fiscal turmoil last week. However, the debt-to-GDP ratio still remains above 120%, and the new bill is expected to add another $3.8 trillion to the national debt. The 10-year and 30-year U.S. Treasury yields have dropped below 4.5% and 5.0% respectively, while Japan's 30-year government bond yield has also fallen below 3%. These levels are still relatively high historically, but short-term risks have eased. Market attention has shifted to the upcoming U.S. Treasury auctions of 10-year, 20-year, and 30-year bonds in June. Meanwhile, the Japanese Ministry of Finance will issue 40-year government bonds today, and plans to issue 30-year bonds next week. The Ministry of Finance seems to be aware of the market's aversion to long-term bonds and appears ready to adjust its issuance strategy to suppress volatility in the long end of the yield curve. Ironically, the market is currently in a "just right" range: the latest data has not been significantly affected by last month's tariff policy. Both businesses and consumers need time to adjust pricing and spending patterns, and these changes may not be reflected in the data until the third quarter. The Fed also seems to share this view and chooses to overlook recent data unless the economy deteriorates sharply. Senator Lummis' widespread remarks on stablecoins and Bitcoin strategic reserves have rekindled hopes for substantial progress in cryptocurrency policy. Since the inauguration of this administration, progress on digital asset plans has been lackluster, but this meeting may provide the necessary impetus to restart White House engagement. Additionally, the Trump Media plan aims to raise $25 billion to join the ranks of companies establishing Bitcoin reserves. If the meeting gains momentum, we may see more companies following the lead of Strategy and Metaplanet, providing new structural buying pressure to the market.