Amberdata Derivatives Newsletter: Rate Cuts, Santa Rally, & Volatility Trends Markets jumped after the NY Fed signaled a likely rate cut, boosting risk assets and setting the stage for a potential end-of-year “Santa Rally” in crypto. BTC volatility is easing, with $100k a key level to watch. Read the full Amberdata Derivatives Newsletter below.
The ETF Exodus Decoded: Basis Arbitrage, Not Capitulation Bitcoin’s sharp ETF outflows and 35% price drawdown look like institutional capitulation — but the underlying data shows something very different. The selling was highly concentrated among a few issuers and tied to a mechanical basis trade unwind, not broad investor fear. This report breaks down the flows, the arbitrage dynamics, and what they signal about who’s actually leaving and who’s still accumulating.
Bitcoin Softens as Liquidity Holds & ETF Selling Cools Our comprehensive weekly coverage of price action and volatility, trading volumes and market structure (orderbook depth/spreads), derivatives markets (open interest, funding rates, long/short positioning, term structure/basis), institutional flows (Bitcoin ETFs, stablecoin supply across chains), and DeFi credit markets (lending protocol TVL, utilization, liquidations).