The latest foreign media reports indicate that former Binance CEO Zhao Changpeng has not been imprisoned despite having been sentenced to four months in prison. This is mainly due to some procedural arrangements in the criminal justice system and the efforts of the legal team. According to the judge's ruling, Zhao Changpeng "should surrender to serve his sentence after being notified by the probation or pretrial services office." At present, these offices have not notified Zhao Changpeng that he needs to go to jail. Therefore, he is still free.
The fact that Zhao Changpeng has not yet been imprisoned once again demonstrates the complexity and procedurality of the US judicial system in handling cases. Although sentenced, Zhao Changpeng still needs to wait for formal notification before he can start serving his sentence. This arrangement not only protects the legitimate rights of the defendant, but also gives him time to deal with personal affairs and make corresponding preparations. This period of time is very important for Zhao Changpeng, and he needs to make full use of this time to prepare for the upcoming sentence.
Greeks.live data shows that a large number of BTC and ETH options will expire on May 17, as follows:
18,000 BTC options are about to expire, with a Put Call Ratio of 0.63, a maximum pain point of $63,000, and a notional value of $1.2 billion.
320,000 ETH options are about to expire, with a Put Call Ratio of 0.28, a maximum pain point of $3,000, and a notional value of $930 million.
This week, the Meme trend in the U.S. stock market drove significant inflows into BTC ETFs, with the price of BTC exceeding $65,000. However, the performance of the crypto market other than Meme was relatively weak, and trading volume continued to decline. The options data of BTC and ETH reflect the differentiation of the market: BTC's long and short forces are relatively balanced, while ETH market confidence weakens, and selling call options has become mainstream. Judging from the bulk trading and market trading structure, the downward trend of implied volatility (IV) in each major period has ended, and is currently in a sideways state, with limited room for market decline.
Expiring options can have a significant impact on short-term price movements for BTC and ETH. BTC’s Put Call Ratio is 0.63, showing that the market has a more optimistic attitude towards BTC, but the biggest pain point of $63,000 will become a key support level. ETH’s Put Call Ratio is 0.28, indicating that the market’s bullish sentiment is weak and the biggest pain point of $3,000 may become an important resistance in the short term. Although option expiration may trigger market volatility, the risk of a sharp decline is small due to IV sideways and market trading structures being relatively stable.
The Chicago Mercantile Exchange (CME Group) is reportedly planning to launch spot trading in Bitcoin. Three people with direct knowledge of the negotiations revealed that CME has held discussions with several traders who want to buy and sell cryptocurrencies on regulated markets. Although the plan has not yet been finalized, if implemented, it will mark a further in-depth entry of major Wall Street institutions into the digital asset industry. At present, CME declined to comment.
As the world's leading derivatives exchange, CME's plan to launch Bitcoin spot trading is a major signal. This not only shows that mainstream financial institutions are increasingly interested in and accepting cryptocurrencies, but also promotes a more standardized and transparent Bitcoin market. If CME successfully launches Bitcoin spot trading, it will surely attract more traditional financial institutions to participate, thereby improving market liquidity and stability. For Bitcoin investors, this is undoubtedly a positive signal that will further enhance market confidence and drive price increases.
Morgan Stanley invested $269.9 million through Grayscale's GBTC, becoming one of the major holders of GBTC. This shows that top financial institutions are entering the Bitcoin market on a large scale. Susquehanna International Group's $1 billion investment further proves this. Other G-SIBs such as Royal Bank of Canada, JPMorgan Chase, Wells Fargo, BNP Paribas and UBS have also disclosed investments in spot BTC ETFs. This not only shows the confidence of institutions in Bitcoin, but also shows that crypto assets are being included in mainstream investment portfolios.
In addition, hedge funds and investment companies such as Pine Ridge Advisers and Boothbay Fund Management are not far behind, disclosing $205.8 million and $377 million in spot BTC ETF investments, respectively. Companies such as Aristeia Capital and Graham Capital Management also have investments totaling hundreds of millions of dollars. Matt Hougan predicts that by May 15, more than 700 professional companies will have invested nearly $5 billion in total. This trend is similar to that of the gold ETF in 2004, indicating that the Bitcoin market may usher in a new bull market.
The Hong Kong spot Bitcoin ETF had a net outflow of 202 coins yesterday (May 16), worth $13.17 million. The total fund management scale is about $229 million.
The U.S. spot Bitcoin ETF had a net inflow of 3,942 coins yesterday (May 16), worth $257 million.
BTC: It closed with a spindle yesterday, and the volume was not large. The long-short ratio is still at a low level, which is conducive to the short-term trend. It is now at the 60-day moving average position, and is in a short-term shock adjustment. As long as the adjustment does not break the 63100 position and the 64200 position, it is a normal retracement confirmation. After the adjustment, the market may choose to shock upward.
ETH: Linked to Bitcoin trend.
PEPE: The recent performance has been eye-catching, with community sentiment continuing to be high and trading volume increasing significantly. This positive market sentiment has driven up the price of PEPE. In the short term, PEPE is expected to continue its upward trend due to market enthusiasm.
PEOPLE: It has attracted much attention because of the ConstitutionDAO project behind it. Data shows that the project has attracted more than 17,437 participants, with a cumulative donation of up to 47 million US dollars. Although ConstitutionDAO failed to successfully bid for a copy of the constitution, the PEOPLE token, as a symbol of community autonomy, still retains its value. From the perspective of community sentiment and news, PEOPLE still has the potential to rise in the short term. Active community support and a solid foundation in the project's fundamentals provide it with the impetus for its rise.
NOT: The fluctuations are violent and the trend is not yet clear. The NOT token has recently attracted a lot of attention due to a viral game on the Telegram platform. The game quickly gathered a large number of users, driving the trading activity of NOT tokens. The NOT token has seen a significant increase in trading volume over the past 24 hours, as well as significant price fluctuations.
Today's hot topics: Layer2; Web3.0.
The Fear Index is currently at 74 (Greed) #芝商所拟推出比特币现货交易 #机构积极投资比特币ETF #BTC走势分析
