Yesterday (March 27), Federal Reserve Governor Christopher Waller made hawkish remarks after market hours, indicating that there are currently no urgent signs of the need to cut interest rates. The duration for maintaining the current interest rate level might be longer than expected, and the number of rate cuts this year might decrease. He also expressed a desire to see at least a few months of improved inflation data before considering rate cuts. Tonight’s core PCE data will be the first significant inflation data following his remarks, and it will be crucial to see if the month-over-month change can slow down to below 0.3% as the market anticipates, showcasing a positive transition.
Source: SignalPlus, Economic Calendar
Source: SignalPlus & TradingView
Shortly after the opening of the U.S. stock market, digital currencies experienced a fluctuation, with the price of BTC touching the $72,000 mark before swiftly falling to around $68,500. The cause of this volatility could include a U.S. regional judge’s ruling allowing the SEC’s lawsuit against Coinbase to proceed, which led to a drop in its stock price and simultaneously put pressure on BTC prices. However, prices then steadily rebounded, recovering all losses and climbing back above $70,000, which boosted market confidence. From the options data, it can be seen that, although there was no significant change in the Vol Surface, the trading records of BTC and ETH mostly showed a unified directional strategy of Long Call/Call Spread and Short Put/Put Spread, such as the BTC 26 APR 24 70000/85000 Call Spread (850 BTC per leg) and Sell ETH 26 APR 24 2800 Put (11237 ETH from Deribit).
Source: Deribit （As of 28 MAR 8:00 UTC）
Source: SignalPlus
Data Source: Deribit, ETH Trading Distribution
Data Source: Deribit, BTC Trading Distribution
Source: Deribit Block Trade
Source: Deribit Block Trade
