Huobi Research
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Huobi Research

Weekly Market Analysis (2022/01/09–2022/01/15)

Abstract

Macro environment:

  • US retail sales recorded a monthly rate of -1.9% in December, well below expectations of 0% and continuing to hit a new low since February last year; US stocks rose in late trading on Friday; Leveraged loan funds in the US continue to suck up money as interest rate hike expectations rise and inflows hit an eight-year high.

Spot market:

  • Market Overview: The overall market capitalisation of cryptocurrencies stood at US$2.065 trillion, up 5.08% from last week.
  • Technical analysis: BTC rallied slightly and then oscillated sideways. ETH price has shaken sharply after the plunge and the trend is unclear.
  • Stablecoin and Capital flow: USDT issued slightly this week. BTC balance in exchanges’ wallets remained stable, ETH balance in exchanges’ wallets remained stable.
  • Miner: The BTC hash rate decreased slightly.
  • Compliance agency: Grayscale Trust BTC/ETH lock-up volume remains stable this week.

Derivatives market:

  • The BTC futures open interest and exchange basis kept steady this week. BTC-compliant market futures contracts kept steady in OI, with trading volume fluctuated. The BTC perpetual contract funding rate dropped several times this week, and the volatility increased.
  • BTC options open interests increased slightly this week. BTC’s short-term and ultra-short-term IV dropped sharply this week, and the gap between periods widened. BTC options skew fluctuated sharply and fell in some extent.
  • The open interests and exchange basis of ETH futures kept steady this week. ETH perpetual contract funding rates fluctuated below zero.
  • ETH options holdings pull back slightly after an abvious increase this week. The IV of ETH options fell sharply, the gap between different periods increased, and the skew fluctuated greatly in each period.

Weekly Market hot spots :

  • Tesla accepts Dogcoin as a payment option for some items in its US online shop.

Macro Environment

BTC and ETH Spot Market Analysis

Analysis of Derivatives Market

Market Hotspots

About us

Huobi Blockchain Application Research Institute (referred to as “Huobi Research Institute”) was established in April 2016. Since March 2018, it has been committed to comprehensively expanding the research and exploration of various fields of blockchain. As the research object, the research goal is to accelerate the research and development of blockchain technology, promote the application of blockchain industry, and promote the ecological optimization of the blockchain industry. The main research content includes industry trends, technology paths, application innovations in the blockchain field, model exploration, etc. Based on the principles of public welfare, rigor and innovation, Huobi Research Institute will carry out extensive and in-depth cooperation with governments, enterprises, universities and other institutions through various forms to build a research platform covering the complete industrial chain of the blockchain. Industry professionals provide a solid theoretical basis and trend judgments to promote the healthy and sustainable development of the entire blockchain industry.

Contact Huobi Research Institute:
Consulting email:
research@huobi.com
Official website: https://research.huobi.com/
Twitter: @Huobi_Research
Medium: medium.com/huobi-research
Telegram: t.me/HuobiResearchOfficial

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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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