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Weekend Brief

Weekend Brief

QCP CapitalQCP Capital2024/09/21 17:12
By:Elisha

Crypto rallied for a 3rd consecutive day yesterday with BTC making a retest of $64,000 and ETH reclaiming $2,500. 

This rally was supported by strong inflows into both BTC and ETH spot ETFs. BTC ETFs recorded a significant net inflow of $250.30 million over the past two days, while ETH ETFs saw a net inflow of $8.10 million during the same period.

With no major macroeconomic events expected this week until Friday’s PCE price report, crypto prices may take a breather here as rate cuts euphoria fades. As of this morning, BTC has fallen below $63,000.

On the options front, front-end BTC volatility dropped by 6 points from yesterday’s peak and continues to decline as the market adjusts to the ongoing path toward policy normalization.

What’s next?

In the current low-volatility and bullish environment, BTC win-range will be attractive for those looking to capitalize on upside convexity as we head into Uptober.

Trade Idea

BTC Win-Range (Top Side)

  • Get paid 5x if BTC fixes anywhere within the range.
  • Payout: 5x
  • Maturity: 29NOV24
  • Range: 80k to 100k
  • (spot ref: 62,800)

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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