Alpha Zone
My Reading List
Log in
DeFiGaming & MetaverseInfrastructureMarketsNFTs
QCP London and New York Colour
QCP Capital
  • Market attention is currently focused on the potential approval of a spot ETH ETF. While the earliest rumored approval date is July 2nd, we believe the likelihood of approval this week is low.
  • The Mt Gox release is also slated to happen this week. This overhang of up to 140,000 BTC should continue to weigh on markets, especially since the exact release schedule is unknown right now.
  • BTC continues to be supported above 60k, and ETH above 3300. However, vols remain low with BTC 1-month ATM trading at the 40 vol handle. We expected the spot-forward basis to compress with the bearish price action but it has surprisingly continued to stay within the 9-11% range.

Trade Idea While the core view remains that crypto continues to trade in a range, the lower vol environment along with relatively higher basis yields provides some interesting high convexity (think higher upside) plays.

The Enhanced Sharkfin is a good option to participate in a potential crypto breakout to new highs.

BTC ENHANCED SHARKFIN Maturity: 27SEP24 Max Payout: 54% p.a. Strike: 73,000 BTC/USD Barrier: 85,000 BTC/USD

You might also like
Article cover
QCP Asia Colour
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.