1) Trump's conference pre-speech tease rallied Spot and buyers of Mar+Apr 88-95k Calls squeezed Vol.
Faders sold the pop and a seller of Apr 80k Puts hammered IV as Spot retraced, then further unwind of Apr 100k Calls beat Dvol more.
Post-speech contango brought calendar sales.

Twitter

On April 23rd, in a recent statement at the White House, President Donald Trump indicated that his administration might adjust import tariffs applied to Chinese goods. According to Trump, the tariff rate...

Trump: Tariffs on Chinese goods will be reduced dramatically

In the tumultuous smoke of tariffs imposed by the Trump administration, Bitcoin has rewritten the narrative logic of traditional financial markets through an epic comeback. At 9:00 AM Beijing time on April 23rd, Bitcoin's price broke through $93,000, with a 7% increase within 24 hours, reaching a new high since March 7th. This breakthrough not only caused short sellers to be liquidated for $618 million in a single day but also reduced Bitcoin's 30-day correlation with US stocks to 0.65, the lowest level since 2023. Against the backdrop of the Nasdaq index plummeting 16% this year, Bitcoin has only pulled back 6%, gradually reshaping its market positioning as "digital gold"...

Bull market returns quickly? Bitcoin breaks through $93,900, why is the market soaring?

The Shaking of Global Asset Pricing Power and the Return of Non-Sovereign Safe Havens.

Download app to participate in rewarding events