Weekly Market Analysis

2021.08.28–2021.09.03

SUMMARY

Macro environment:

  • Cash “tsunami” swept through the Federal Reserve, overnight reverse repo amount to a new high; U.S. stocks fluctuate Thursday, close slightly higher; Eurozone Inflation Rises to Decade-High at Annual Rate.

Spot market:

•Market Overview: Overall cryptocurrency market cap reached $2.233 trillion this week, up 11.9% from last week.

•Technical Analysis: BTC oscillated upwards this week, back above 50,000. ETH went up strongly and hit a new recent high.

•Stablecoin and Capital flow: USDT issued continually this week. USDT premium rate continues to be negative.BTC balance in exchanges’ wallets is stable this week, ETH outflow slightly.

•Miner: The BTC hash rate decreased slightly.

  • Compliance agency: Grayscale Trust BTC/ETH lock-up volume remains stable this week.

Derivatives market:

•BTC futures position was basically stable, basis difference was slightly oscillating downward. btc compliance market futures contract position was steadily increasing, the volume was significantly higher. btc perpetual contract funding rate was basically around 0, okex funding rate was more volatile.

•BTC options positions rose steadily. btc options IV declined in all periods, ultra-short-term IV was more volatile but the decline was minimal. btc skew was positive in all periods, with a small overall decline and a small widening of the gap between skew.

•ETH contract positions declined slightly and the basis differential fluctuated slightly. etH mainstream contract exchange perpetual contract funding rates were basically positive.

•ETH options positions fluctuated slightly and were basically stable. iv of all ETH maturities declined, with ultra-short-term iv declining the least and the gap between skew of each maturity increasing.

Weekly Market hot spots :

  • NFT project Loot surpassed $100 million in total trading volume on OpenSea. The top three market gainers for the week were AR, REV, and FTM. market sentiment remained greedy.

Macro Environment

BTC and ETH Spot Market Analysis

Analysis of Derivatives Market

Market Hotspots

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