The overnight session was unusually strange, starting with:
1. The NFP data was surprisingly strong (272k vs. 182k), with an increase in employment and a rise in the unemployment rate (from 3.9% to 4.0%). This was enough to trigger risk aversion ahead of US inflation data and the FOMC next Wednesday.
2. This was followed by the Roaring Kitty live stream, watched by nearly a million viewers, during which GME stock price plummeted. It is probably no coincidence that altcoins and memecoins also began to plummet, wiping out more than $40 billion in market value.
Our desk saw bullish flows on this drop, including sellers of aggressive puts and buyers of call spreads, especially in BTC.
BTC and ETH subsequently rebounded from lows of 68.3k and 3575. -
We agree that this is a good opportunity to buy on the dip, as the market will increasingly price in at least one rate cut from the Fed. As the rest of the world continues to cut rates, it will be hard for the US to ignore this. 👀 Near q1un + WeChat: BTC88109, brothers, like + follow, I will continue to update market analysis, high-quality potential currencies, first-hand cutting-edge information, and share the stories of netizens to avoid pitfalls
