On April 16th, crypto market maker QCP Capital pointed out in its latest market report that although Asian markets rebounded on Monday morning on the positive side of the approval of Bitcoin and Ethereum ETFs in Hong Kong, the US market once again saw a full-scale risk asset sell-off. BTC once again fell below the 63,000 dollar.
It is worth noting that the ETH Risk Reversal Indicator has turned extremely negative at the near end (-12%), indicating that market sentiment is tight. In addition, the market is currently in the ETH Gamma short position, which means that the sharp fluctuations in the ETH price may be amplified.
Given the current market jitters and uncertainties, QCP recommends deploying highly convex, zero-downside risk strategies on ETH, such as Shark Fin structured products. Taking the reference price of $3,100 as an example, a bullish ETH Shark Fin can achieve an annualized return of up to 57% when the ETH price is between $3,500 and $3,900 at expiration; a bearish ETH Shark Fin can achieve an annualized return of up to 54% when the ETH price is between $2,500 and $2,800 at expiration. If the ETH price breaks through the above range, 100% of the principal will be returned.
QCP Capital: Market risk aversion is heating up, and the ETH risk reversal indicator has turned extremely negative
2024-04-16 00:04:16
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