Weekly Market Wrap — October 15, 2021

Welcome to the Weekly Market Wrap, which arrives each Friday.

The Weekly Market Wrap is DAR’s new newsletter on crypto market performance and the week’s news, trends, and data.

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Data Source: DAR, TradingView¹

Macro Overview

Digital asset markets were up this week with the total industry market cap hovering above $2.5 trillion. The price of Bitcoin (BTC) closed at $57,870.30, up 7.21% on the week, while Ethereum (ETH) closed at $3,793.15, up 5.18% on the week.

Macro Comparison

Bitcoin has outperformed Ethereum over the last 30 days, with Bitcoin up 24.5% and Ethereum returning 13.2%. While Bitcoin has seen a significant increase in its price, its rolling volatility has only increased slightly.

See a comparison of rolling volatility and net returns across Bitcoin, Ethereum, gold, and the S&P 500 over the last month in the chart below.

The S&P 500 and gold are now no longer correlated with Bitcoin when looking at a 30-day rolling correlation. Ethereum remains positively correlated with Bitcoin.

See how Bitcoin’s performance was correlated to Ethereum, gold, and the S&P 500 over the last month in the chart below.

Top News Recap

  • SEC Set to Allow Bitcoin Futures ETFs as Deadline Looms — Bloomberg
  • Binance Starts $1 Billion Crypto Growth Fund for Blockchain — Bloomberg
  • Coinbase Co-Founder’s Venture Firm Raising $1.5B Fund, Document Shows — CoinDesk
  • Polkadot Sets Date for Hotly Anticipated Parachain Auctions — CoinDesk
  • White House Weighs Wide-Ranging Push for Crypto Oversight — Bloomberg

Weekly Top and Bottom Performers

Livepeer (LPT) was the best performing token over the past week, up
61.49% on the week. Aeternity (AE), last week’s best performing token, was the most significant laggard, down 26.74% on the week.

When looking across a longer time period, we see that several of the week’s top-performing tokens, including Livepeer (LPT), Chilliz (CHZ), and Fusion (FSN), saw a spike in the last few days after experiencing flat or negative performance earlier in the month.

Bitcoin Performance by Region

Bitcoin’s performance across regional trading sessions was up over the past week. The most significant downturn of the week happened on October 12 during the European session when Bitcoin’s price fell by 2.59%. The most positive price action of the week happened on October 13 during the North American session when the price of Bitcoin rose by 3.93%.

Sector Volatility vs Return

Most sectors have posted negative average daily returns across the last 30 days, with only the Protocol Interoperability sector delivering positive returns in that time period. Most sectors continue to see volatility between 4.5%-7%.

See how volatility compared to returns across different sectors of the digital asset market over the last month in the chart below. With 400+ classified assets, DAR’s Industry Taxonomy allows clients to perform analysis across market segments and more.

¹ Value as of yesterday 4p ET; indices and financial products market data from TradingView daily close

² DAR price at 4p ET and % change from prior day’s values

Contact us for details on Vetted and Watchlist Exchanges or prices and volumes for 1000+ crypto assets. We also welcome feedback on this newsletter.

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https://www.digitalassetresearch.com/newsletters

If you would like to submit an announcement or a news item for inclusion in this newsletter, please reach out to news@digitalassetresearch.com.

All publication decisions are at the discretion of the DAR editorial staff.

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Digital Asset Research (DAR) provides independent, rigorous, credible cryptocurrency research, pricing, and market data for institutional investors.

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Digital Asset Research

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Digital Asset Research (DAR) provides crypto asset research, pricing, and market data to institutional investors. digitalassetresearch.com

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