Weekly Market Analysis
2021.07.31–2021.08.06
Macro environment:
Yellen said the monthly rate of inflation will fall before the end of this year. The three major U.S. stock indexes rose across the board. The Bank of England announces latest interest rate decision.
Spot market:
Technical Analysis: BTC fluctuated at a high level this week, pay attention to the breakthrough above. ETH continues to rise this week, pay attention to the continuation of the upward trend.
Stablecoin: USDT issued slightly this week. USDT premium rate continues to be negative.
Miner: The BTC hash rate rose slightly.
Compliance agency: Grayscale Trust BTC/ETH lock-up volume remains stable this week.
Derivatives market:
BTC futures open interests decreased slightly. The general basis decreased slightly; The open interest of CME BTC futures’ contract was relatively sluggish. The trading volume decreased significantly; The funding rate of BTC perpetual contracts was basically positive;
BTC option open interests decreased and then increased; All term of BTC ATM IV increased, the super-short and short term increased more greatly; Medium and long term skew increased more greatly. Super-short and short term skew turned from negative to positive. The differences between all term maturities skews gradually shrink.
The open interests of ETH contracts increased slightly. The general basis gradual decreased slightly. ETH perpetual contracts funding rate was basically positive.
Total ETH options open interest continued to increase. All term IVs increased. Super-short term skew decreased slightly and the rest term skews increased slightly. The differences between all terms skews are gradually expanding.
Weekly Market hot spots :
Ethereum has completed the “London” hard fork upgrade, including EIP-1559 and other 5 core improvements.
Macro Environment
BTC and ETH Spot Market Analysis
Analysis of Derivatives Market
Market Hotspot
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Huobi Research was founded in April 2016 and started research and explorations in various aspects in Blockchain area since March 2018. We cover various fields such as Blockchain technology research, industry analysis, application innovation and economic model explorations. We aim to establish a research platform and to offer theoretical foundations as well as judgements of trends in Blockchain to the public, ultimately promoting the development of the Blockchain industry.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
