Weekly Market Analysis (2021/10/30–2021/11/05)

HTX Research

Published in

HTX Research

4 min readNov 8, 2021

SUMMARY

Macro environment:

•October nonfarm payrolls up most in 3 months; U.S. stocks were mixed; Federal Reserve leaves policy rates unchanged at November FOMC meeting.

Spot market:

•Market Overview: Overall cryptocurrency market capitalization stood at $2.692 trillion, up 3.18% from the previous last week.

•Technical analysis: BTC was not very volatile, with a slight upward trend in prices. ETH hits another ATH as uptrend continues.

•Stablecoin and Capital flow: USDT issue volume increased significantly this week. USDT premiums continue to be negative, BTC balance in exchanges’ wallets outflowed significantly, ETH outflowed slightly.

•Miner: The BTC hash rate increased slightly.

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

Derivatives market:

•BTC futures open interest kept the same level as last week, with basis increased slightly. BTC-compliant market futures contracts saw a sharp drop. BTC perpetual contract funding rates remain positive.

•BTC options open interests move down. BTC options IV for defferent periods spacing has been significantly tightened. The skew of BTC options in all periods fell continuously.

•ETH contract open interest increased slightly, with basis tended to the same level. ETH perpetual contract funding rates were largely positive.

•The open interests of ETH options have formed a U-shaped trend this week, current OI keep the same as last week. ETH ultra-long-term options IV slightly dropped. Skew of ETH options for different periods fell significantly.

Weekly Market hot spots :