Yesterday, the U.S. employment data was significantly revised down as expected, but BTC did not react to this when the U.S. market opened, indicating that the market had already digested this information. The current focus remains on the speech by Federal Reserve Chairman Powell at the global central bank meeting in Jackson Hole, Wyoming, on Friday...

According to a survey conducted by the New York Fed in July regarding expectations for the labor market, the percentage of respondents worried about potential unemployment in the next four months increased from 3.9% last year to 4.4%. The proportion of those expecting to change jobs rose to 11.6%, and the percentage of workers looking for jobs in the past four weeks increased to 28.4%.

Yesterday (14AUG) marked the highlight of this week—the release of the US CPI data. The data showed that the seasonally adjusted CPI year-on-year rate for the end of July in the US was 2.9%. There was a significant demand for bearish options protection in the short to medium term for BTC, leading to an overall decline in the mid-front Risky.

Yesterday (13 Aug), the US July PPI rose 2.2% year-on-year, lower than expected, and significantly down compared to the previous value. With the rise in currency prices, the volatility surface has once again shown a steepening change.

Bitcoin just experienced the impact of the macro market last week, trading around 60,000 to 61,000 over the weekend. From the options perspective, the price volatility has broken the previous brief calm, and the impact of the macro data release has also been amplified.

In the past 24 hours, the cryptocurrency market has focused on two main issues: why IV collapsed and why it rose? The increase in coin prices has driven Vol Skew to rebound, and significant selling on the bearish side has notably increased the slope of BTC from October to the end of the year.

On August 7, the U.S. Treasury issued $58 billion in 3-year bonds, with a winning yield of 3.810%, lower than the trading level before the issuance. Meanwhile, the Deputy Governor of the Bank of Japan announced that interest rates would not be raised during market instability, leading to a pressured decline in the yen; after Ripple's settlement with the SEC, XRP trading volume surged by 254%, and its price increased by 20%.

Following Trump's speech in support of digital currencies at the Bitcoin 2024 summit on Sunday, news emerged the next day about the U.S. government transferring a large amount of Bitcoin. Investors heavily bought put options for protection on ETH 2 AUG while simultaneously selling a large number of call options in the mid-front.

At the highly anticipated Bitcoin 2024 summit on Sunday, U.S. presidential candidate Trump delivered a keynote speech as a heavyweight guest. Market bullish sentiment began to brew last night, with intraday fluctuations reaching around 3%.

Yesterday (23JUL), the focus of the crypto community was on the evening launch of the ETH Spot ETF. Prior to this, the options market had already priced in a considerable amount of uncertainty at the front end.

In terms of options, the implied volatility has recently shown a significant upward trend with fluctuations. Due to poor liquidity over the weekend, the IV fluctuations caused by the latest news event appear to be more pronounced.