On August 19, the exchange rate of the yen against the US dollar has risen by 2.4% since last Thursday to 145 yen against the US dollar, indicating a preference for safe-haven currencies. Similar yen strength triggered the unwinding of carry trades in early August, causing sharp fluctuations in risk assets including bitcoin. Bitcoin prices fell from about $70,000 to $50,000 in the first eight days of August 5, and then rebounded to...
The latest report from QCP Capital states that BTC price has rebounded strongly since last week's sharp market correction, but is still struggling to stay above the $60,000 level. The BTC put skew has recovered significantly from -25% during the panic to -5% before the wash, but the market remains cautious in the short term, expecting the BTC put skew to persist until September. In two major pullbacks in April and June this year, BTC recovered to above 70k in less than a month. With Blackrock co...