ChainCatcher reported that QCP Capital stated in an official post that after the release of the non-farm payroll data yesterday, the initial market reaction was positive, driving up risk assets. However, as the market began to digest the expectation of a 50 basis point interest rate cut in September, the bullish sentiment underwent a dramatic shift. After the release of the non-farm payroll data, the probability of a 50 basis point interest rate cut was 55%. But as of this morning, the probability of a 25 basis point interest rate cut has risen to 70%, while the probability of a 50 basis point cut has fallen to 30%.

Even with the downturn in cryptocurrencies, the options market remained relatively calm. There was even a large amount of put option selling seen throughout the trading session. We observed that front-end volatility was declining as spot prices consolidated over the weekend.