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QCP Weekend Macro
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  • Friday's US data releases provided a big bullish boost to markets. A quick follow-on to the dovish FOMC and QRA which lifted prices off the lows just the day before.
  • Employment data was weaker than expected across the board which dampens the fear of rising inflation (Non-Farm Payrolls at 175k v 240k, Unemployment Rate at 3.9% v 3.8%, Average Hourly Earnings MoM was 0.2% v 0.3%).
  • The stars are aligning with both the Fed and Treasury leaning dovish plus weaker data, which reopens the path for rates cuts this year.
  • US 2-Year Yields collapsed from over 5% to almost 4.7%! Does this mark the end of the rampaging USD dollar rally?
  • The crypto markets loved this, especially the BTC spot ETFs which saw net inflows across the board totaling $378.3m. Even GBTC was posting a positive inflow number for the first time!

Trade Ideas:

Don't fight the Fed. The Bullish ERKO Seagull strategy suggested on Thursday is already in-the money.

If you think the bull market has resumed and would still like to buy BTC or ETH below the recent lows of 56.5k and 2814, you can still do so with Accumulators.

BTC Accumulators (spot ref: 63.5k)

  1. 35 weeks (27-Dec expiry) Buy BTC at 52k every Friday as long as BTC spot price is under 73k.
  2. 20 weeks (13-Sep expiry) Buy BTC at 55k every Friday as long as BTC spot price is under 70k.

ETH Accumulators (spot ref: 3,100)

  1. 35 weeks (27-Dec expiry) Buy ETH at 2500 every Friday as long as ETH spot price is under
  2. 20 weeks (13-Sep expiry) Buy ETH at 2700 every Friday as long as ETH spot price is under
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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.