Asia Colour

Crypto continues to consolidate below the key level of 64,000 amidst a lack of macro catalysts from the U.S. BTC remains range-bound between 62,000 and 64,000, while ETH is trading at the low end of 2,600.

Micron (MU) surged 16% before the opening bell today due to the upward revision of their revenue forecast for Q4. The market anticipates other chip players such as Nvidia (NVDA) to follow suit. Given how the rally in Nvidia’s stocks often lead to a rally in crypto, could this spark the catalyst required to pull BTC above 64,000?

Key macro events to watch today include the U.S. GDP reading and Fed Chair Powell’s comments. The market will be following Powell’s speech closely for indications of any shifts in sentiment following last Thursday’s FOMC press conference, which signaled potential for further easing.

Overnight, presidential candidate Kamala Harris reaffirmed her support for cryptocurrencies for the second time this week, promising to position the U.S. as a dominant power in “AI, quantum computing, and blockchain.” She also reiterated the inclusion of “digital assets” in her economic plan.

Trade Idea

With both presidential candidates pledging their support for crypto, the election of either candidate would be a win for the crypto ecosystem in the U.S. As central banks globally begin easing rate cycles, the anticipated influx of liquidity is likely to drive crypto prices higher. We favor long-dated structures with unlimited upside to capitalize on potential parabolic advances in prices.

Moonshot Sharkfin

• Max Payout: 105.59% p.a.
• Maturity: 28MAR25
• Strike: 85,000
• Barrier: 130,000
• (spot ref: 63,800)

Elections – Trump vs Harris Showdown

Make 401.4% p.a. returns if BTC expires at 80k on Election Week (08-Nov).

• Maturity: 08NOV24
• Sell 1x BTC 62k Put
• Buy 3x BTC 70/80k/90k Call Fly
• Cost: Zero
• Max Return: 401.4% p.a. or $30,000 USD per BTC if spot expires AT 80k
• Downside: At expiry, if spot is below 62,000, you buy BTC at 62,000