Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
QCP Capital Weekend Market Brief – 6 Apr 24

QCP Capital Weekend Market Brief – 6 Apr 24

QCP Capital2024/04/06 06:04
By:QCP Capital

– We saw unusually large selling of Perp-June Basis over the last two days for both BTC and ETH.
– This has compressed the front-end and flattened the whole forward curve to 15-17% across the board.
– We suspect the flow could be Ethena related but it could also simply be large players squeezing yield out of elevated forwards as leveraged longs decrease.

– In spite of the tight range in the past week, we are picking up on more BTC bullishness (especially in comparison to ETH) for the following reasons:

1. Increasing BTC spot ETF inflows in the last few days (up to +$232m on Thu)
2. Positive headlines about key traditional finance players like Citadel, Goldman, UBS and Citi joining as Authorised Participants for Blackrock’s ETF.
3. Consistently large buying of BTC calls (vs large selling of ETH calls)
4. Reduced leverage in BTC with perp funding flat and the rest of the forward curve lower as well
5. Upcoming BTC halving narrative
– Are these 5 factors enough to take BTC another leg higher?

Bullish BTC Trade Idea: The BTC Moonshot

Deployment in USD. Profit if BTC moons. Buy if BTC dips, and get your principal back if it trades sideways.

Live examples (spot ref 68k):

26-APR expiry
– 350% p.a. profit if BTC is above 90k at expiry
– If BTC is below 50k at expiry, USD is used to buy BTC at 60k
– If BTC is in between 50k and 90k at expiry, 100% of the principal is returned

28-JUN expiry
– 340% p.a. profit if BTC is above 110k at expiry
– If BTC is below 50k at expiry, USD is used to buy BTC at 60k
– If BTC is in between 50k and 110k at expiry, 100% of the principal is returned

27-DEC expiry
– 275% p.a. profit if BTC is above 150k at expiry
– If BTC is below 50k at expiry, USD is used to buy BTC at 60k
– If BTC is in between 50k and 150k at expiry, 100% of the principal is returned

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!