Yesterday (24 JAN) U.S. January manufacturing and services PMI preliminary values were higher than expected, respectively, recorded 50.3 and 52.9, while the preliminary composite PMI recorded 52.3, a 7-month high, in addition to the five-year U.S. bond auction results are also not very good, the market risk sentiment has improved, the U.S. bond yields rose slowly, the current two-year / ten-year were 4.376% /4.158%. U.S. stocks, energy and large technology stocks again led the way, the S&P and the Nasdaq rose slightly 0.08% / 0.36%, the Dow closed down 0.26%.

Source: SignalPlus, Economic Calendar

In digital currencies, total outflows from GBTC have almost unilaterally offset total inflows into the other nine ETFs since the ETFs were approved, and the market is still dealing with short-term outflows and a lack of positive incentives, with BTC and ETH oscillating in a narrow range above and below the $40,000/$2,220 mark over the past 24 hours, respectively, with front-end implied volatility steepening, down around 3%, and with the Vol Skew also recovering around 2–3% after prices stabilized. Vol Skew also recovered around 2–3% after prices stabilized, but is still at a near three-month low.
In terms of trading, there were a large number of call strategies traded in ETH FUTURES, with long strikes concentrated at 2300–2400, with the largest volume being the 23 FEB 2400 vs 2700 combination of Call Spread traded on the options chain, with single-leg turnover of around 26,000 ETH. The most prominent strategy in BTC is a customized strategy, selling 1500 sets of 23 FEB Stangle and at the same time buying 1000 sets of 26 APR Straddle, forming a cross volatility carry trade.

Source: Binance & TradingView
Source: Deribit (As of 24 JAN 08:00 UTC)
Source: SignalPlus
Source: SignalPlus
Source: Deribit Block Trade
Source: Deribit Block Trade

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