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A Harris win this election may not be as bearish as the market thinks. In another bid to win over the crypto vote, Kamala Harris vowed at a fundraiser over the weekend to help the crypto sector grow. This is on top of Anthony Scaramucci and other crypto advocates working alongside her campaign’s crypto policies.

Harris’ apparent pro-crypto flip together with macro tailwinds, gave crypto a boost to start the week which triggered almost 60m of short liquidations.

Last week we mentioned that BTC could rally up to 13.8% from its lows of 57.5k. Since last Monday, BTC has recovered almost 12% and it looks poised to rally further.

The usual frontend Put skew that we’ve been seeing over the past month is starting to normalize, as more buyers of topside and sellers of downside options emerged over the weekend.

Even funding rates on major exchanges are improving, and basis yields are starting to look relatively more attractive, especially with the interest rate cuts.

Trade Idea

If you would like to ride the bullish momentum into Q4, a Principal Protected Sharkfin offers a potential return of over 96% p.a with no downside.

BTC Sharkfin

Max Payout: 96% p.a.
Maturity: 27DEC24
Strike: 80k
Barrier: 100k
(spot ref: 63,500)