Yesterday (20 JUN), in terms of macroeconomics, the number of initial jobless claims in the United States slightly exceeded expectations at 238,000, while the new housing starts in May fell by 5.5%, reaching the lowest level in four years. The US bond yields maintained a slight volatile trend and closed lower, with the three major stock indices showing mixed movements. The S&P and Nasdaq fell by 0.25% and 0.79% respectively, while the Dow rose by 0.77%.
On the digital currency front, BTC spot ETF saw continuous outflows for several days, leading to a decline in prices breaking below the $64,800 support level, currently hovering around $64,000. The options market sentiment was negative, with a significant Long Risky Flow of buying puts and selling calls for BTC by the end of June, and a strong bullish option selling pressure for ETH by the end of July, causing the overall Vol Skew of the market to move downwards. At the same time, implied volatility levels are also decreasing, with BTC/ETH dropping by around 3% and 7% respectively. Looking at data from the past three months, BTC ATM IV is approaching its historical low.
According to Deribit data as of 21 JUN 16:00 UTC+8, the overall IV level has dropped to historic lows for BTC. Due to intraday trading influences, the front-end Vol Skew collapsed, while the forward end saw a slight increase.
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