Relative Value in Ether?

In this week's Crypto Insight I discussed...

The key support levels that were tested and seem to have held in BTC and ETH. This was despite more negative news regarding Binance being banned in the UK by the FCA.

The ETH/BTC cross rate also reached a major support level which we saw as a better way to get long exposure to a broad crypto rally given the more risky macro backdrop post FOMC.

The volatility markets have been quite orderly and rangebound both in term of implied vols and skew. We would expect no fireworks unless be break below 28k.

The relative spread between ETH and BTC vol has slowly been coming down which is why we chose to express our views using an August Call switch between ETH and BTC. If ETH can gain some traction ahead of it’s update, then this trade might begin to pay us.

Filmed on on Tuesday 29th June 2021.

Chapters:
00:00​ Introduction
01:06​ Crypto Insight

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