QCP Capital officially posted on the Telegram channel that "US JOLTS job openings fell to the lowest level since January 2021, while layoffs rose to the highest level since March 2023. The market pricing reaction is a 50% probability of a 50 basis point rate cut in September, and a total of 4.5 rate cuts are expected in 2024.
- BTC rose to $58,500 and ETH approached $2,500 when US traders were active, but BTC fell to $57,000 and ETH fell back to $2,400 during the active Asian market. Overnight BTC spot ETF outflows were the lowest in the past 6 trading days ($37.5 million outflow). Will we see ETF inflows support prices during active US trader hours?
- Volatility remained high at the front end of the week, with BTC volatility up 6% from its lowest level this week. Considering yesterday's VMI signal, we expect volatility to remain elevated.
Trading idea: Lock in gains amidst the upcoming rate cut.
Yield bundle: 25.5% annualized ($3,493 per $100,000 deployed)
Basic + Sell 50000/49000 Spot Short 10.8x and 67000/68000 Call 10.8x (Expiration: Oct 25)
(Expiration: Oct 25), Downside risk: Maximum loss is $6,460 if spot is below $49,000 or above $68,000 at expiration. Spot reference price: $57,100.