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  • Spot came off for BTC and is now hovering at 61.8k, right in the middle of the range from yesterday's highs (63.5k) and last Friday's lows (60.1k).
  • We expect Powell's speech tonight to be carefully worded as always, resulting in a muted market reaction.
  • On the other hand, CPI numbers tomorrow may be the catalyst to finally help the market pick a direction.
  • While the general market continues to drift off into the summer, GME has emerged after a long slumber, pumping 80+% yesterday off the back of Roaring Kitty's tweet.
  • Could this be the start of a memecoin frenzy?

Trade Idea: Utilize our ZCC to receive upfront yields on your dollars for punting memecoins.

BTC ZCC (USD deployment)

Receive upfront payment of 25% p.a. upon deployment

At expiry, as long as BTC spot is above 47k, 100% of the principal is returned.

If BTC spot is below 47k at expiry, you will buy BTC at 57k level.

Maturity: 9AUG24 (12 weeks) Strike: 57,000 Protection Level: 47,000 Upfront Payment: 25% p.a.

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Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.