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It’s been a week since the sharp drawdown across markets. While the price recovery has been strong, BTC continues fighting to stay above 60k.

While the BTC put skew has normalised significantly from -25% during the panic to pre-washout levels at -5%, the market remains cautious in the near term with a BTC put skew out till September.

In the previous two sharp drawdowns this year (Apr and Jun), BTC recovered back above 70k in less than a month. With BlackRock consistently reporting positive inflows through the week, we expect continued liquidity and support from US investors.

Macro factors continue to be critical for the crypto markets. While Asian equity markets have been supported today, some potential volatility events to look out for are Elon Musk’s interview with Trump at 8pm ET and US CPI on Wednesday.

Trade Idea

BTC CFCC (1-Nov)

  • Earn 20% pa weekly as long as spot price is above 47k.
  • Strike: 47k 
  • Protection: 43k 
  • At expiry, only if spot price is below 43k, the USD deployed is converted to BTC at 47k.
  • (BTC Spot Ref: 59,700)
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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.