Crypto Market

BTC and ETH Market Insight

The unemployment rate remained steady at the anticipated 4.2%. Bitcoin found a local bottom at $100.4K following the Elon-Trump conflict. Currently, the price is around the mid-range with a monthly open at $105K, and these range highs and lows serve as important indicators for future trends. As long-term holders gradually increase sell pressure, the likelihood of a short-term correction grows, especially without a strong catalyst to propel Bitcoin above $111.8K.

Upcoming Macro Calendar - Source: Trading Economics

Options Market

The spat between Elon Musk and President Trump sparked a brief risk-off sentiment across global markets, momentarily pressuring BTC and ETH. Markets swiftly recovered, closing the week nearly flat. Implied volatility for both assets declined, with both IVs trading around flat against RVs, suggesting a fair valuation of option prices. That being said, BTC’s IV continued to trade at a low end. Options skew on the front shifted slightly toward puts, indicating fading near-term upside momentum. Option flows revealed increased demand for downside protection, with upside strategies shifting to longer tenors, suggesting cautious optimism for future gains amidst short-term consolidation.

Altcoins and Blockchain News

• Hong Kong FSTB Secretary Christian Hui: Stablecoins can be used for payment functions via blockchain; holders' redemption requests must be completed within one business day.
• Singapore MAS Clarifies DTSPs Regime Applies Only to Payment Tokens or Capital Markets Product Tokens.
• MicroStrategy Plans to Raise Approximately $1 Billion Through Preferred Stock Offering to Increase Bitcoin Holdings.
• Gemini Has Confidentially Submitted a Draft Registration Statement to the US SEC for IPO.
• Ripple's Stablecoin RLUSD Gains Regulatory Approval in Dubai.
• Tether Transferred Over 37,000 BTC, Valued at Nearly $4 Billion, to Twenty One Capital.
• Listed Company Classover Plans to Raise $500 Million to Accelerate Solana Treasury Building.
• The DeFi protocol ALEX was attacked due to a logic vulnerability, resulting in a loss of approximately 8.37 million USD. The official team has promised full compensation.
• The Skate Foundation has announced its token economic model: a total supply of 1 billion tokens, with an initial airdrop accounting for 10%

Macro

The major indices closed higher for a second consecutive week: the DJIA added +1.2%, the S&P 500 +1.5%, and the Nasdaq +2.2%. The Chinese stock market rebounded for the week: the Shanghai Composite Index added +1.13%, the CSI 300 +0.88% and the Hang Seng index +2.16%.