Softer-than-expected CPI reignited rate-cut odds, and risk appetite. Stocks hit new highs, BTC spiked to 112K before settling near 110K, and ETH neared 4K. On Deribit, IV collapsed into the low-40s for BTC, and high 60s for ETH. Let's carry on. Disclaimer: Deribit FZE is licensed by the Virtual Assets Regulatory Authority (VARA) for virtual asset exchange services, but does not offer derivatives to retail investors. DRB Panama Inc. is unregulated and serves retail and non-retail investors. Virtual Assets are subject to extreme market volatility, involve a high degree of risk, and can lose value, in part or in full. Investing in Virtual Assets may result in you losing your entire investment. Virtual Assets are not insured against potential losses and are not protected by any form of financial protection whatsoever.(Deribit)