Yesterday (26 MAR), the United States saw its first increase in durable goods orders in nearly 3 months, and the pace of housing price increases accelerated, with the Housing Price Index rising 6.6% year-over-year, higher than the previous value of 6.3%. The U.S. Treasury market remained calm, while the U.S. stock market initially showed a steady performance across the board but ended slightly lower after facing a large-scale futures sell-off towards the close.

Source: SignalPlus, Economic Calendar
Source: SignalPlus & TradingView

Digital currencies have temporarily paused their recent upward trend, with BTC and ETH experiencing minor fluctuations around $70,000 and $3,600 respectively for most of the past 24 hours, after a slight retreat from recent highs. The upward potential has become less clear, leading to a reduction in the implied volatility and Vol Skew in the options market at the mid-front end. Trading also reflects strategies indicative of bearish volatility and weakened upward momentum, such as BTC Short 31 MAY 24–85000-C, BTC Short 5 APR-68000/73000-Strangle, and ETH Short 26 APR 24–42000-Straddle. Besides, in both cryptocurrencies, short-term transactions are still predominantly defensive bearish spread strategies, with a part of BTC transactions shifting towards the mid-long term, among which the 27 DEC 24 100000-C option received a bulk purchase of 725 BTC, marking the largest open position yesterday.

Source: Deribit (As of 27 MAR 8:00 UTC)
Source: SignalPlus, Mid-Front End ATM Volume Decrease
Source: SignalPlus, Vol Skew Decreases
Data Source: Deribit, BTC & ETH Trading Distribution
Source: Deribit Block Trade
Source: Deribit Block Trade

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