Paradigm Session Recap — December 1
Spot is down, with BTC at $86,500 and ETH at $2,800 as of this writing. The September PCE print—likely the final inflation datapoint ahead of the Fed’s rate decision—is due Friday at 10am ET.
Fronts widened and put skew increased slightly. Flows featured OTM puts, with 5 Dec 75k lifted at 84v and 12 Dec 2k bought at 110v. There was also interest further out the curve, with the 26 Jun 26 80k bought at 51v.
Spot is down, with BTC at $86,500 and ETH at $2,800 as of this writing. The September PCE print—likely the final inflation datapoint ahead of the Fed’s rate decision—is due Friday at 10am ET.
Fronts widened and put skew increased slightly. Flows featured OTM puts, with 5 Dec 75k lifted at 84v and 12 Dec 2k bought at 110v. There was also interest further out the curve, with the 26 Jun 26 80k bought at 51v.
Paradigm Session Recap – December 8
Spot is up, with BTC at $90,700 and ETH at $3,100 as of this writing. The Fed is expected to cut rates by 25 bps. New economic projections are due at 2 p.m. ET, followed by a press conference with Chair Powell.
Fronts retraced while skew is largely unchanged. Flows featured a December custom. The 12 Dec 96k call sold at 51v.
Spot is up, with BTC at $90,700 and ETH at $3,100 as of this writing. The Fed is expected to cut rates by 25 bps. New economic projections are due at 2 p.m. ET, followed by a press conference with Chair Powell.
Fronts retraced while skew is largely unchanged. Flows featured a December custom. The 12 Dec 96k call sold at 51v.
Paradigm Session Recap – December 9
Spot is up, with BTC at $92,900 and ETH at $3,300 as of this writing. National Economic Council director Kevin Hassett, the frontrunner for next Fed Chair, said he would rely on his own judgment and not bow to political pressure, adding that the Fed “cannot be a political body.”
BTC flows featured the 13 Dec 90k / 98k risk reversal. The ETH 26 Dec 4.8k call was lifted at 78v.
Spot is up, with BTC at $92,900 and ETH at $3,300 as of this writing. National Economic Council director Kevin Hassett, the frontrunner for next Fed Chair, said he would rely on his own judgment and not bow to political pressure, adding that the Fed “cannot be a political body.”
BTC flows featured the 13 Dec 90k / 98k risk reversal. The ETH 26 Dec 4.8k call was lifted at 78v.
Paradigm Session Recap – January 5
Spot is up, with BTC at $94,200 and ETH at $3,200 as of this writing. Global crypto ETPs saw $47.2bn of inflows in 2025, ending the year just 3% shy of 2024. The week features a Michelle Bowman speech on Wednesday and December payrolls on Friday.
BTC flows saw calls lifted, with Jan 98k at 44v and Feb 100k also at 44v. ETH flows featured call spreads bought.
Spot is up, with BTC at $94,200 and ETH at $3,200 as of this writing. Global crypto ETPs saw $47.2bn of inflows in 2025, ending the year just 3% shy of 2024. The week features a Michelle Bowman speech on Wednesday and December payrolls on Friday.
BTC flows saw calls lifted, with Jan 98k at 44v and Feb 100k also at 44v. ETH flows featured call spreads bought.
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Paradigm Session Recap – January 20
Spot is down, with BTC at $88,200 and ETH at $2,900 as of this writing. Stocks sold off sharply amid renewed global trade war concerns, with all Mag 7 names down at least 1%. US Treasury yields pushed to the highest levels since last summer following Trump’s Greenland rhetoric and Japan’s long-end yields at record highs. Treasury Secretary Scott Bessent said President Trump could decide on the next Fed chair as soon as next week.
Fronts are up ~10 vols and put skew increased as spot sold off. BTC flows featured the Feb 70k put lifted at 53v. Jan risk reversals also traded.
Spot is down, with BTC at $88,200 and ETH at $2,900 as of this writing. Stocks sold off sharply amid renewed global trade war concerns, with all Mag 7 names down at least 1%. US Treasury yields pushed to the highest levels since last summer following Trump’s Greenland rhetoric and Japan’s long-end yields at record highs. Treasury Secretary Scott Bessent said President Trump could decide on the next Fed chair as soon as next week.
Fronts are up ~10 vols and put skew increased as spot sold off. BTC flows featured the Feb 70k put lifted at 53v. Jan risk reversals also traded.