Last Friday (March 8), the U.S. nonfarm payroll for February saw a significant increase of 275,000, but the previous value was sharply revised down by 167,000, making this report appear weak. The unemployment rate surged from 3.7% to 3.9%, and the average hourly earnings month-on-month growth rate dropped to 0.1%. The market began to reassess the possibility of an economic recession, with long-term U.S. Treasury yields pressured downwards. The yield on the ten-year note is now reported at 4.078%, and the two-year note experienced slight fluctuations, reported at 4.488%.

Source: SignalPlus, Economic Calendar, This week’s focus is on the U.S. CPI data.
Source: Binance & TradingView, BTC successfully broke through 70K.

In the realm of digital currencies, although BTC retreated after reaching $70,000 yesterday, a surge before today’s close officially marked BTC’s breakthrough above the $70,000 threshold, setting a new all-time high. ETH also achieved its goal of reaching $4,000 per coin. Option implied volatility skyrocketed with the price breakthrough, rewriting recent historical highs. Among them, the implied volatility (IV) of BTC’s cycle options surged by 20% to approach the 100% level, also resulting in a reversal of the ETH Vol Premium, once again drawing the market’s attention to it. In terms of transactions, the past 24 hours saw relatively lackluster BTC trading, with a new round of trades following the breakthrough yet to arrive. As for ETH, prior to surpassing $4,000, the transactions were mainly short calls on March options traded by retail investors. After the close, large trades became active, trading 16,250 sets of April 4000 vs 5000 Call Spread, indicating a continued bullish outlook on ETH’s potential for upward movement.

Source: Deribit (As of 11 MAR 08: 00 UTC)
Source: SignalPlus
Data Source: Deribit
Data Source: Deribit
Source: Deribit Block Trade
Source: Deribit Block Trade

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