Weekly Market Analysis

2021.08.14–2021.08.20

Macro environment:

The sudden change of the Afghan regime has exacerbated global geopolitical risks, and U.S. bond yields hit a record low of one and a half weeks.The three major U.S. stocks were mixed, and market volatility intensified.Two U.S. Departments Appeal: Available Epidemic Funds Continue to Provide Additional Unemployment Benefits.

Spot market:

Technical Analysis: BTC rose after the callback this week, pay attention to the above breakthrough. ETH rose after the callback this week, pay attention to the above breakthrough.

Stablecoin: USDT issued continually 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 increased slightly. The general basis fluctuated slightly and then rose slightly. The open interest of CME BTC futures’ contract steadily increased. The trading volume increased significantly. The open interest of CME BTC futures’ contract steadily increased. The trading volume increased significantly. The funding rate of BTC perpetual contracts was basically negative.

BTC option open interests increased slightly. All terms of BTC ATM IV decreased , and the super-short term decreased more greatly. Super-short term skew turned from negative to positive and its volatility was large. The differences between all term maturities skews gradually shrink.

The open interests of ETH contracts decreased slightly. The general basis fluctuated slightly . ETH perpetual contracts funding rate was basically negative . Except for OKEx , other mainstream contract exchanges ‘ perpetual contract funding rates were basically stable.

The total ETH options open interests fluctuated slightly and turned from negative to positive . All term IVs decreased. Super-short term IV decreased significantly. The differences between all terms skews are gradually expanding.

Weekly Market hot spots :

Coinbase plans to buy $500 million in cryptocurrencies and will invest 10% of its quarterly profits in a diversified crypto asset portfolio.

Macro Environment

BTC and ETH Spot Market Analysis

Analysis of Derivatives Market

Market Hotspot

About Huobi Research

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.

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