QCP Capital: The Federal Reserve's policy is flattening, AI investments and cryptocurrencies face structural challenges

QCP Capital stated in an official channel that the market is ending the year with a fragile balance of confidence and caution. The Federal Reserve's dovish rate cuts are mixed with hawkish tendencies, signaling support for the labor market while firmly keeping inflation in focus. The dot plot suggests that the path of interest rates will flatten, with the market currently pricing in about 2 to 3 rate cuts expected next year.

The stock market remains a key macro swing factor. Funds continue to flow into the artificial intelligence infrastructure sector, but its monetization process is lagging. If revenue growth cannot keep pace with investment, the risks will spread from the AI sector, potentially triggering a broader stock market valuation reassessment in 2026.

The cryptocurrency market still faces pressure, as Morgan Stanley Capital International is reviewing the eligibility of digital asset management companies for index inclusion. This could trigger passive outflows of up to $2.8 billion.