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What’s fueling the equities rally?

  1. Momentum traders and trend-followers are reportedly re-leveraging, amplified by August’s lower liquidity.
  2. Corporate share buybacks have surged to $1.15 trillion this year. Goldman Sachs’ trading unit has seen record client demand for dips.

Potential Implications:

  • Risk-on sentiment could extend to crypto and gold, pushing BTC higher given the strong demand for topside calls.
  • U.S. elections remains a key focus, with BTC skew favoring puts pre- election, and a steep 6 point vol spread between pre- and post-election expiries. The Democrats’ platform lacks cryptocurrency support, while the Republicans pledge to end the unlawful and un-American crypto crackdown’.

Trade Idea

Given the potential for market volatility and election-related risks, we suggest a defensive, high yield-generating and limited downside strategy for Q3.

Amplified Range Accrual (10 Weeks)

  • Receive weekly 120.6% p.a. coupons every Friday if BTC fixes between 55,000 & 65,000 or lose 1% of your principal if it fixes outside the range (capped at 10% max loss over 10 weeks)
  • Max Potential Payout: 120.6% p.a. in weekly coupon if BTC/USD fixes within the coupon range for every week
  • Expiry: 25-Oct (10 weeks)
  • Coupon Range: USD 55,000 to 65,000

Spot Ref: 61,000 BTCUSD

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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.