According to Odaily, QCP Capital has reported on its Telegram channel that U.S. job openings have fallen to their lowest level since January 2021, while layoffs have risen to their highest level since March 2023. The market is pricing in a 50% probability of a 50 basis point rate cut in September and expects a total of 4.5 rate cuts in 2024. During active trading hours in the U.S., Bitcoin (BTC) rose to $58,500, and Ethereum (ETH) approached $2,500. However, during active trading hours in the Asian market, BTC fell to $57,000, and ETH retreated to $2,400. Overnight, BTC spot ETF outflows were the lowest in the past six trading days, amounting to $37.5 million.
There is speculation on whether ETF inflows during U.S. trading hours will support prices. This week, front-end volatility remains high, with BTC volatility rising by 6% from its lowest level this week. Considering yesterday's VMI signal, high volatility is expected to persist. Trading strategy: lock in profits ahead of the upcoming rate cuts. Yield bundling: annualized 25.5% (deploying $3,493 per $100,000). Basis + selling 50,000/49,000 spot short 10.8 times and 67,000/68,000 call options 10.8 times (expiry date: October 25). Downside risk: if the spot price is below $49,000 or above $68,000 at expiry, the maximum loss is $6,460. Spot reference price: $57,100.
