Paradigm Session Recap - December 9, 2024 Spot is down, with BTC at $97,000 and ETH at $3,700 as of this writing. After hitting all-time highs on Friday, the S&P 500 and Nasdaq Composite slipped following China's announcement of an antitrust probe into Nvidia. This week, we have CPI on Wednesday at 8:30 am ET and PPI on Thursday. Tomorrow, Microsoft shareholders will vote on the "Assessment of Investing in Bitcoin" proposal, which the board has recommended voting "Against." The market saw over $1.5 billion in long liquidations over the past 24 hours. Fronts are climbing, and skew is flipping puts as spot retraces. The BTC term structure is flat-ish, with fronts and backs around 60v, while ETH is backwardated, with fronts at 90v and backs at 70v. The 28 Mar 25 150k Call was lifted at 67v. These was also some noteworthy downside protection buying.