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  • A dovish Powell last Friday kept markets supported over the long weekend.
  • In the last 24 hours, we've seen significant interest to sell calls and buy puts in both BTC and ETH.
  • This has put some downward pressure on spot price and has also kept implied vols high, particularly in ETH where demand for puts have been much higher than for calls in the front-end (downside risk reversal skew -5% in April)

Trade Idea:

  • Accumulators have been outstanding in this range-y market, allowing investors to buy BTC close to 50k level even with BTC spot trading around 70k.
  • A 12-week Accumulator (spot ref 68.5k) allows you to buy BTC weekly below 57k (17% discount to market!)

*upper barrier at 75k

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QCP Extraordinary Market Update
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.