Before the non-farm payroll data was released, yesterday (June 5th) the so-called “mini non-farm” ADP jobs report in the U.S. came in below expectations at 152,000, marking the smallest increase since January this year. U.S. Treasury yields continued to decline, with the ten-year yield dropping below the 4.3% threshold. The major U.S. stock indices all closed higher, with the S&P 500 and the Nasdaq increasing by 1.18% and 1.96% respectively, while the Dow Jones saw a modest rise of 0.25%. Notably, Nvidia surged 5.16%, overtaking Apple to become the world’s second largest company by market value.
Source: SignalPlus, Economic Calendar; Investing
In the realm of cryptocurrencies, under recent favorable macroeconomic conditions, the price of BTC continued to rise, challenging the resistance level of $71,600. This increase was undoubtedly supported by the accelerated inflow into ETFs in the past two days, with purchases on June 4th alone amounting to $886 million, followed by an additional $488 million yesterday.
Source: TradingView
Source: Farside Investors
In the options market, both the front-end Implied Volatility (IV) and Volatility Skew for BTC have decreased. From a trading perspective, the continued price rise has attracted traders to sell short-term call options, as well as call spreads expiring at the end of June. Additionally, a single-leg call buying strategy involving over 1000 BTC at strikes of $92,000 vs $100,000 expiring at the end of July became a market focus. However, almost half of this position was closed out at cost within an hour of being opened.
Source: Deribit （As of 6 JUN 8:00 UTC）
Source: SignalPlus
Source: SignalPlus
Data Source: Deribit, Overall Distribution of ETH Tradings
Data Source: Deribit, Overall Distribution of BTC Tradings
Source: Deribit Block Trade
Source: Deribit Block Trade
