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Reading https://www.qcpgroup.com/insights/london-new-york-colour-4/

TLDR :cherry_blossom:

The article discusses the disappointing launch of the Hong Kong BTC and ETH spot ETFs, which saw low trading volumes, indicating that institutional crypto interest is more concentrated in the US while Asian interest is more focused on private wealth and native dominance. The market is trading heavily, with BTC touching 61k and ETH close to 3k, and the article provides some short-term trading ideas to hedge the downside risk.

Key Points :dizzy:

  • Hong Kong BTC and ETH spot ETFs had disappointing launch volumes, suggesting institutional crypto interest is more in the US
  • Asian crypto interest is more focused on private wealth and native dominance
  • Market is trading heavily, with BTC at 61k and ETH close to 3k
  • Article provides short-term trading ideas to hedge the downside risk

In-depth Summary :hibiscus:

The article discusses the launch of the Hong Kong BTC and ETH spot ETFs, which saw terribly disappointing trading volumes. The BTC ETF saw only $8.5 million in volume, while the ETH ETF saw $2.5 million. This might be an indication that institutional crypto interest is more concentrated in the US, while Asian interest is more focused on private wealth and natively dominated markets.

The market is currently trading heavily, with BTC touching 61k and ETH close to 3k. The article suggests that with upcoming events like Amazon earnings and CZ’s sentencing, the market might be in for a volatile session into the New York trading hours. To hedge the short-term downside risk, the article provides some trading ideas, such as BTC 31-May (58k Put / KO 50k) with a max payout of 8.25x and a cost of $850 per BTC, and ETH 31-May (2700 Put / KO 2200) with a max payout of 10.63x and a cost of $47 per ETH.

ELI5 :lollipop:

The article talks about how the new crypto ETFs (like stocks for cryptocurrencies) in Hong Kong didn’t do very well when they first started trading. This might mean that big investors are more interested in the US crypto market, while in Asia, the crypto interest is more from regular people and local companies. The overall crypto market is also going through a tough time, with the prices of Bitcoin and Ethereum dropping a lot. To try to protect themselves from the prices going down even more, the article suggests some short-term trading strategies that people can use.

Writer’s Main Point :cherry_blossom:

The main point of the article is to highlight the disappointing launch of the Hong Kong BTC and ETH spot ETFs, which suggests that institutional crypto interest is more concentrated in the US, while Asian interest is more focused on private wealth and native dominance. The article also provides some short-term trading ideas to hedge the downside risk in the current volatile market conditions.