Digesting the Flash Crash

In this week's Crypto Insight we dissected...

Last week’s flash crash where crypto market dropped around 20% intraday.

Futures open interest and funding data had shown an increase in speculative leveraged long positions which were starting to introduce some fragility into markets.

Whilst we didn’t anticipate such a dramatic drawdown, thankfully we had taken profit on some ETH calls and were starting to pivot towards bearish plays, such as our PUT LADDER, which was highlighted to subscribers.

We now expect markets to consolidate into September expiry and find a strong base around 42k in BTC and 3k in ETH.

We then anticipate entering bullish structures in Oct/Nov maturities to participate in what we think can be a strong leg higher into year-end.

Vol analytics show that there is a divergence forming between short and long dated skew which singles that some weakness may still be to come but the longer term bullish sentiment is intact.

Filmed on on Tuesday 14th September 2021.


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