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Key takeaway from yesterday’s FOMC is that the Fed is clearly leaning dovish: a September cut has been fully priced in.

Unfortunately, the rally in equities was not felt in crypto. Crypto experienced a broad sell-off overnight and into this morning. The market remains on edge as traders pay close attention to daily ETH ETF outflows and further supply pressures from Mt Gox and US government.

Longer-term, discussions among U.S. Presidential candidates and Senators regarding a sovereign Bitcoin reserve, and the potential for other nations to follow suit, could fundamentally alter the cryptocurrency landscape. The establishment of a U.S. or sovereign “put” on BTC prices may have significant implications, potentially making accumulation on dips a strategic investment approach.

Trade Idea With markets potentially range-bound until the next catalyst, deploying Accumulators allow you to systematically buy ETH below 3,000 level.

ETH ACCUMULATOR

  • Expiry: 13DEC24
  • Settlement Frequency: Weekly from 2AUG24
  • Strike: 2,800
  • Barrier: 3,700
  • (spot ref: 3,180)
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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.