The United States announced last night (17 Aug 08: 30 pm UTC+8) that the number of initial jobless claims for the week recorded 239,000, slightly lower than the expected 240,000, and the previous value was 248,000. **The labor market is still tight **. U.S. Treasuries also sold off for the sixth day in a row, with the 30-year U.S. Treasury yield rising to nearly 4.40%, breaking the 2022 panic high and approaching 2010/11 levels. Under the current market environment, next Thursday (25 Aug 10: 00 pm UTC+8) Federal Reserve Chairman Powell's speech at the Jackson Hole Global Central Bank Annual Conference will attract more attention, and it may be expected to be the next step. Monetary policy and measures bring some guidance.

Source: SignalPlus, important financial events next week

In the early hours of this morning, the digital currency plummeted. BTC fell by US$1,700 (-8%) in the short term. The intraday decline once expanded to 14.5%, and the lowest fell to 24,600 (Binance-BTC-USDT-Perp), ** erasing June 15 BlackRock realized most of the gains after applying for the Bitcoin Spot ETF**. In fact, there is no recent news about cryptocurrencies that can promote bullish sentiment, and the rise in U.S. interest rates and the rise in risk aversion have imperceptibly pushed investors to transfer risky assets, which may be the reason why digital currency prices tend to weaken in the near future One of the main reasons, coupled with the steady trend in the past month, has resulted in the accumulation of positions on major support lines, and these positions have intensified the short-term mutual stampede during the process of market decline and liquidation, resulting in temporary overreaction. Regarding today's plunge, it is reported that SpaceX has reduced its BTC position by US$373 million this year. Although it is not clear when it was sold, this news undoubtedly adds to the pessimistic environment of the market.

Source: Binance & Tradingview, BTC broke several support points in a row, and only rebounded near the high point before the first quarter of 23

This round of decline has triggered a large-scale liquidation of various exchanges. According to data from CoinGlass, as the price fell, 855.215 M worth of contracts were liquidated on BTC alone in the past day.

Source: Coinglass

Affected by the plunge, the implied volatility of options rose rapidly in the early morning, and ATM IV of BTC/ETH once exceeded 50% at the end of the month. After the price rebounded and gradually stabilized around BTC 26500/ETH 1680, the market began to become rational and liquidity gradually returned, giving up about half of the IV increase, but the current IV is still at a recent high.

Source: Deribit (as of 18 Aug 16:00 UTC+8)

Source: SignalPlus, IV surge

As the price of digital currency continues to weaken, the P/C Ratio of the past 24 H ETH transactions has risen to a high of 0.67, and the Deribit retail market has obviously lightened/opened call options, and bought short-term Put as a protection transaction The trend caused the BTC/ETH IV Skew to show a significant decline.

In terms of bulk transactions, the decline in prices has reduced the cost of traders' long-term bullish layout. There are about 2600 reverse calendar spread strategies for BTC, including buying 29 SEP 23-33000-C while selling 29 DEC 23-33000- C, betting on the follow-up development of BTC ETF application results; ETH has a similar buy 29 SEP 23-2000-C, sell 29 DEC 23-2000-C transaction (close to 40000 ETH), in addition to ten At the end of the month, there were also two large Outright Call purchases, namely 5,000 2100-C and another 5,000 2200-C.

Source: Laevitas, ETH P/C Ratio Hit Weekly High

Source: SignalPlus, BTC/ETH 25 dRR down

Source: Deribit Block Trade

Source: Deribit Block Trade

You can search for SignalPlus in ChatGPT 4.0's Plugin Store to get real-time encryption information. If you want to receive our updates immediately, please follow our Twitter account @SignalPlus_Web 3 , or join our WeChat group (add a small assistant WeChat: chillywzq), Telegram group and Discord community to communicate with more friends interactive.

SignalPlus Official Website：