Yesterday (21 MAY), according to Jinshi, Fed Governor Waller said that weak inflation data in the next three to five months will allow the Fed to consider cutting interest rates at the end of the year, and there is no need to raise interest rates at the moment. Fed Vice Chairman Barr also reiterated that high interest rates need to be maintained for a longer period of time. The 10-year U.S. Treasury yield fell for the first time in five days, once dropping to 4.40%. Today, it has recovered most of its losses and is now at 4.437%. The three major U.S. stock indexes closed higher collectively, with the S&P and Nasdaq rising 0.26%/0.2% respectively, reaching new historical highs again.

Source: SignalPlus, Economic Calendar

Source: Investing

In terms of digital currency, as the Ethereum spot ETF decision date approaches, ETH's overall IV level has risen again, and the price has successfully broken through the 3,700 mark. Bitcoin prices are slightly weak, and the currency price has adjusted back to around US$70,000.

Source: Deribit (as of 22 MAY 16: 00 UTC+ 8)

Source: SignalPlus

In terms of trading, BTC mainly adopts bullish strategies. Among them, 31 MAY 77000 vs 81000 Call Spread has a single-leg transaction volume of nearly 1,400 BTC, becoming the focus of yesterday. In terms of ETH, the sharp rise in currency prices caused a large number of stop-loss and take-profit orders. Among them, the buy-back stop-loss on 31 MAY 3000-C was about 19,500 ETH, and the sell-back stop-loss on 28 JUN 24 3600-C was about 18,000 ETH, which was the highest price yesterday. Significant position reduction point; the bulk platform transactions are hot, mainly including the bullish Call Spread in June, the Long 3400 Put at the end of May, the selling of call options on Wing and the buying of put options, which explains yesterday’s Vol Skew of ETH. There was an overall significant decline in the upward trend.

Source: SignalPlus

Data Source: Deribit, overall distribution of ETH transactions

Data Source: Deribit, overall distribution of BTC transactions

Source: Deribit Block Trade

Source: Deribit Block Trade

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