Blockchain enthusiasts, take note! There is new progress in the legal dispute between the U.S. Securities and Exchange Commission (SEC) and blockchain giant Ripple. The SEC submitted a letter detailing the grounds for appeal, involving the "programmatic" buying and selling of XRP on the trading platform and other distribution activities of Ripple. This is a response to Judge Torres' earlier ruling that certain transactions and distributions of XRP are not securities transactions. However, the news of the SEC's appeal poured cold water on the rekindled bullish sentiment. BTC fell 2% yesterday, almost giving up the gains of the previous day, and then the price rebounded slightly, closing down at 29498.78 (-1%).
In terms of options, the volatility of BTC's mid-front end fell 1%, and the curve steepened. It is worth noting that: First, the ultra-short-term volatility has risen rapidly, and the current 1D ATM IV is priced at nearly 40%, including the market's uncertainty premium for the US CPI event tonight; second, the IV in August and September is still high, and the market is betting on the uncertainty of the results of the judgments (SEC vs Ripples, Tradfi BTC Spot ETF application) in the next two months. In addition, there are a large number of Bear Call Spread transactions in the mid-to-front term on the BTC side, almost all of which are sold at 32000-C and then bought at the tail (such as 34000 Call) for protection. From historical data, 32000 is indeed the resistance level of BTC price.
ETH block transactions are mainly concentrated in the forward period, such as buying Risky's 5000 groups 29 DEC 23 1500/2500 on dips, and 5000 groups 29 MAR 24 1900/2300 Call Spread for forward bullish bets. 🚀
Source: SignalPlus, Deribit, TradingView
In terms of options, the volatility of BTC's mid-front end fell 1%, and the curve steepened. It is worth noting that: First, the ultra-short-term volatility has risen rapidly, and the current 1D ATM IV is priced at nearly 40%, including the market's uncertainty premium for the US CPI event tonight; second, the IV in August and September is still high, and the market is betting on the uncertainty of the results of the judgments (SEC vs Ripples, Tradfi BTC Spot ETF application) in the next two months. In addition, there are a large number of Bear Call Spread transactions in the mid-to-front term on the BTC side, almost all of which are sold at 32000-C and then bought at the tail (such as 34000 Call) for protection. From historical data, 32000 is indeed the resistance level of BTC price.
ETH block transactions are mainly concentrated in the forward period, such as buying Risky's 5000 groups 29 DEC 23 1500/2500 on dips, and 5000 groups 29 MAR 24 1900/2300 Call Spread for forward bullish bets. 🚀
Source: SignalPlus, Deribit, TradingView