SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

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SignalPlus
half a month ago
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In terms of digital currency, we first pay attention to ETFs. Yesterday, GBTCs net outflow reached US$105.2 million, but at the same time, IBIT held up the market with an inflow of US$102.5 million.

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Yesterday (28 May), Minneapolis Fed Chairman Kashkari made a hawkish statement: Although the possibility of raising interest rates is very low, he does not think this possibility can be ruled out, and it is expected that the number of interest rate cuts this year will not exceed 2 times. In addition, affected by the weak auction of US Treasury bonds, the yield of US Treasury bonds rose during the session, with the two-year and ten-year bonds currently at 4.956% and 4.564% respectively. The three major US stock indexes rose and fell, with the Dow Jones Industrial Average falling 0.55%, the SP 500 flat, and the Nasdaq closing up 0.59%.

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Source: Investing

In terms of digital currency, we first focus on ETFs. Yesterday, GBTCs net outflow reached US$105.2 million, but at the same time, IBIT held up the market with an inflow of US$102.5 million. So far, the holdings of Bitcoin ETFs have ushered in a historic reversal moment. According to data recorded by HOLD 15 Capital, BlackRocks IBTC surpassed Grayscales GBTC yesterday to become the Bitcoin spot ETF with the largest net asset value.

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Source: Twitter; Farside Investors

On the other hand, following yesterdays news, former Mt.Gox CEO Mark Karpeles said that Mt.Gox is operating normally and will not sell Bitcoin immediately; Galaxys head of research Alex Thorn also believes that most Bitcoin will be held rather than sold immediately, which once eased the markets panic over the breaking news and caused the price of the currency to slowly fluctuate back to a position close to 59,000. From the options, we can also see that the overall IV level of BTC has basically given up yesterdays gains, down 1-2% Vol, and RR has also rebounded. However, before todays settlement, the price suddenly plunged to around 67,700 in the short term, or the market is still cautious about possible selling pressure.

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Source: TradingView

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Source: Deribit (as of 29 MAY 16: 00 UTC+ 8)

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Source: SignalPlus

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Source: SignalPlus

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Data Source: Deribit, overall distribution of ETH transactions

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Data Source: Deribit, overall distribution of BTC transactions

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Source: Deribit Block Trade

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

Source: Deribit Block Trade

SignalPlus Volatility Column (20240529): IBIT surpasses GBTC

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