According to BlockBeats, on April 2, according to the latest analysis of QCP Macro Notes, the market began to reduce the expected number of Fed rate cuts in 2024, and the current expectation has dropped from 3 times to 2.75 times. The reasons include: First, both Powell and Waller said that the Fed "does not need to rush to cut interest rates"; second, the manufacturing purchasing managers' index (PMI) is above 50, indicating economic expansion, so there is no need to cut interest rates; third, energy prices are higher, and US gasoline prices are close to the summer highs of 2023, and interest rate cuts may bring risks. The dollar and US Treasury yields are higher, stock market trading is weak, and Bitcoin is under pressure. If the Fed continues to reduce its expectations for rate cuts, asset prices may be fully exposed to the impact of "risk closure". However, QCP believes that despite this, Bitcoin is still a "buying opportunity" because, first, long-term call option purchases continue, showing structural bullish sentiment from December 2024 to March 2025; second, increased institutional participation and rising demand for spot ETFs mean that traditional finance may have just begun to participate. As for how to buy Bitcoin at a low point, QCP recommends an accumulator strategy to buy Bitcoin spot at $55.5k (15.3% below the current price of $65,500) over the next 12 weeks (the accumulator cap is $70,000).