A court document shows that, due to the recent rise in the value of cryptocurrencies such as BTC and SOL, nearly all customers of the bankrupt cryptocurrency exchange FTX will be able to recover their funds, and potentially more. Specifically, the company currently has assets ranging from $14.5 billion to $16.3 billion available to repay creditors’ debts of about $11.2 billion. However, some investors remain pessimistic about the potential upward movement of coin prices due to the risk of selling these volatile assets.
On the other hand, according to Bloomberg, the world’s largest crypto asset management company, Grayscale, has announced the withdrawal of its application for Ethereum futures submitted to the U.S. SEC, without revealing the reasons for the withdrawal, leading to widespread speculation.
Source: TradingView
BTC performed poorly this week, reversing most of the gains brought by macroeconomic positives since last Friday. In terms of options, the implied volatility has fluctuated slightly at recent lows, with a flatter front-end curve, and ETH still has a higher Vol Premium compared to BTC. From a trading perspective, the sell call spread strategy of ETH 31 MAY Sell 3700 Buy 3800 became the focus of the past day, and the selling pressure of BTC’s bullish strategy was equally strong, accompanied by significant protective put option purchases across various terms, leading to a substantial drop in Vol Skew.
Source: Deribit （As of 9 MAY 8:00 UTC）
Source: SignalPlus
Source: SignalPlus
Data Source: Deribit, Overall Distribution of ETH Trading, 31 MAY Sell 3700 Buy 3800 Call Spread
Data Source: Deribit, Overall Distribution of BTC Trading
Source: Deribit Block Trade
Source: Deribit Block Trade
