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Elisha

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Market Insights

Asia and London Colour

Published June 6, 2024
1 mins read

Article by Elisha

  • BTC ETFs saw yet another strong day with $488.1m in net inflows.
  • The desk saw more call buying overnight, targeting Jul 100k strike.
  • A lower than expected jobless claims report tonight and the CPI release next week might potentially be the trigger for a new all time high for BTC. There may also be added momentum to the rally as the market prices in rate cuts.
  • Meanwhile ETH continues to lag as SEC Chairman Gary Gensler notes that the ETH ETF S-1 Approvals ‘will take some time’.

Trade Idea:
With the S-1 approval delayed, we expect ETH to continue lagging in the short term but eventually outperform BTC once the ETF starts trading.

Accumulate ETH at discount immediately with our revised early accumulator to receive more ETH upfront now.

Early Delivery Accumulator 2.0 (ETH)
On a 500,000 USD Deployment, you will buy 35.7316 ETH at 3500 ETHUSD (9% discount). ETH is credited to your account immediately.

From the 5th week onwards, you will buy at 3500 every Friday as long as the spot price is below 4450.

Maturity: 20SEP24 (16 weeks)
Strike: 3,500 (-9.09%)
Upper Barrier: 4,450 (+15.58%)
Observation Frequency: Weekly starting from 5JUL24
(Spot Ref: 3,850 ETHUSD)

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