Greeks.live: Cryptocurrency market whales are not betting on significant fluctuations this month, generally believing that the market will be relatively stable

ChainCatcher message, Greeks.live macro researcher Adam stated that the Bank of Canada has just announced a 25 basis point rate cut, in line with market expectations. The U.S. stock market continues to decline at the opening, with leading company Nvidia having dropped 20% in a week. The crypto market has also been dragged down by macro factors and the U.S. stock market, experiencing continuous declines recently. Therefore, the employment data in the next couple of days is worth paying attention to. If the economic data is weak, the possibility of a 50 basis point rate cut by the Federal Reserve this month will be on the table, which would be beneficial for stopping the decline in both the U.S. stock market and crypto.

However, from the options data, currently, except for the U.S. election week, the implied volatility for other maturities remains relatively stable. Crypto market whales have not bet on significant fluctuations this month, generally believing that the market will be relatively stable.