FINANCIAL SERVICE PLATFORM
Best Before: 26 June 2020
What's going to be interesting is BTC options expiry as close to $1bn of open interest (or more than 100k BTC options) will set to expire today. Some have asked if we are gonna see any impact, I actually see little as most of the OI are skewed towards 10k and beyond, so I see little gamma action into the close as these calls are likely to expire worthless.
Jun 03: Crypto is not for the faint-hearted
Welcome to the world of volatility. Crypto never sleeps. Bitcoin got whipsaw squeezing shorts to trade above $10,400 on Monday only to get smashed down to $9,300 with fresh longs capitulated (see chart below).
May 31: Everyone Wants to be the Broker in Crypto
BTC has managed to get into my sell zone with ETH clearly leading the charts with the triangle breakout getting quite a few technical guys excited. Contrary to this spike, 20k+ ETH Dec 120 puts traded at $8.4 yesterday. So who's gonna be right?
When China Yuan Sneezes, Bitcoin Wears a Mask
My thesis continues to be that larger accounts (i.e. whales who own > 1000 BTC) have started to liquidate (which I shared yesterday that this number have continued to decline for the past two weeks), and potentially chase/re-allocate into equities.
May 26: It's Always Been There
Strategy today? With SPX e-mini futures now just shy of 20 points from 3,000 level and the highest it's traded since the March 23 crash, I expect BTC to follow. Expectedly, this recent sell off has been mostly triggered by large players (i.e. whales) trimming their positions.
May 25: Negative Rates Eating the World (but not Crypto)
Like Chinese ADRs in the US, it's a sea of red for crypto with Bitcoin down more than 5% in the past 48 hours as it fails to hold above 9k & 8.8k where stops got triggered. No news or catalyst but the lack of bulls to follow through was evident through the volume, and perhaps over this long weekend that the usual buyers haven't been able to pile onto their longs.
Matrixport Launches New Crypto Products with Fixed Income Investment and the Flexi-Term Investment Product
SINGAPORE - On 18th May 2020, Matrixport will introduce the Fixed Income Investment Product and the Flexi-Term Investment product, where asset security is protected by a risk control mechanism by real crypto assets guaranteed by excess pledge.