QCP: The structural logic of digital asset allocation has not changed; in the third quarter, focus will be on macro conditions, AI fund flows, and shifts in corporate holdings

Deep Tide TechFlow news: On July 14, QCP released a third-quarter digital asset market outlook, saying the structural investment logic for digital assets remains solid. ETFs, corporate asset allocation, and regulatory progress continue to propel the move toward institutionalization, but the second-quarter market lacked clear catalysts. The report noted that while Bitcoin maintained resilience amid geopolitical shocks, ETF fund outflows, and fluctuations in confidence among major market corporate holders, it failed to take the lead in rallying.

QCP believes that at the margin, institutional capital has flowed more into AI infrastructure, semiconductors, and large initial public offering projects, and that crypto assets were unable to participate in the related rebound. Moreover, if the AI sector weakens, the crypto market may not be able to stay insulated either. In addition, demand for corporate holdings can no longer be seen as stable bottom support, and market expectations regarding the stability of corporate-level Bitcoin holdings are changing. In the third quarter, the market should focus on the macro environment, the Federal Reserve’s policy path, capital rotation between AI and crypto assets, and position signals from the BTC, ETH, SOL, and options markets.