Weekly Market Analysis

SUMMARY

  • Compliance agency: Grayscale Trust BTC/ETH lock-up volume remains stable this week.
  • •Both BTC futures open interests and basis rose slightly. The open interest of CME BTC futures’ contract picked up slightly, with volume unchanged from last week. The BTC perpetual contract funding rate was essentially zero.
  • •BTC options positions increased by more than 10%, returning to pre-pin levels. The Short Term IV and Ultra Short Term IV declined slightly. BTC options ultra-long-term and long-term skew were both positive and slightly up, ultra-short-term skew rose the most and remained negative, and the gap between the skews narrowed.
  • •ETH contract positions picked up slightly and basis differentials rose slightly. The funding rates of ETH perpetual contracts were essentially negative.
  • •ETH options open interests continued to rise. ETH IV declined slightly across all maturities, with a small decline in short-term skew and little change at the beginning and end of the remaining maturity skew.
  • •Vitalik Buterin Named to Time Magazine’s ‘100 Most Influential People of 2021’ The top three market gainers for the week were AMAX, ATOM, and HBAR. Market sentiment shifted from fearful to neutral.

Macro Environment

BTC and ETH Spot Market Analysis

Analysis of Derivatives Market

Market Hotspots

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Blockchain industry top think tank, affiliated to Huobi Group.

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Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.

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