Just before the release of the U.S. CPI data, the ten-year yield fell from a high of 4.40% to around 4.36%, with the two-year now at 4.741%. Investors are focusing on the upcoming Federal Reserve policy meeting minutes and key inflation data to track new clues about the timing and magnitude of rate cuts.
In terms of digital currencies, the IBIT ETF saw a recovery in buying flow yesterday, essentially breaking even with the outflow from GBTC. On the price side, BTC has been stabilizing below $7W, with a trend of narrowing fluctuations. As for options, the implied volatility for April has dropped by 3–4% Vol. Looking at the trades, the selling pressure at the end of April for BTC was unusually strong, mostly concentrated at key levels of $75,000/$80,000/$100,000, causing a significant tilt in the front-end Vol Skew once again. The ETH 19 APR 24 call options show a Seagull Flow, indicating a relatively cautious attitude towards downward volatility.
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