Yesterday (5 Dec), the U.S. ISM services index rebounded due to the increase in business activities and recorded a slightly higher than expected 52.7. Another JOLTS job vacancy data recorded 8.733 M, far lower than the expected 9.3 M for 2021. The lowest since March 2020, highlighting the signs of cooling in the U.S. labor market. Affected by this, U.S. bond yields continued to fall. The ten-year yield fell below 4.2% and is now at 4.19%. The two-year yield is more sensitive to interest rate policies. The yield first fell and then rose, now at 4.614%. Trading in U.S. stocks was dull, with the SP and the Dow closing down 0.06% and 0.22% respectively, while the Nasdaq closed up 0.3%.

Source: SignalPlus, Economic Calendar

Source: Binance & TradingView

In terms of digital currency, BTC bulls once again challenged higher points after a day of adjustment. The price rose another 5% overnight to close at $43,619. ETH weakly linked up and closed at 2267.3 (+ 2.92%). The rise in actual volatility once again drove up the front-end IV, and 29 DEC 23 still acted as a local low and became the dividing point for the flattening of the slope of the surface. To some extent, this round of rising prices can be interpreted as a bet on the positive expectation that the SEC will approve the review of the BTC SPOT ETF in January. The trading volume of BTC options was boosted by this and hit a recent high. Its bulk volume once again appeared to be 26 Jan. 24 42000 vs 50000 The bullish strategy represented by Long Call Spread, there are also some roll-out operations in the form of Sell Call Spread in the short and medium term, which together express the outlook for the upside space in the market outlook. In addition, there are many buy Put Spread strategies for BTC/ETH in the short and medium term to protect positions in downward scenarios.

Source: Deribit (as of 5 DEC 16:00 UTC+8)

Source: SignalPlus

Source: Deribit Block Trade

Source: Deribit Block Trade

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