Weekly Market Analysis (2022/01/16–2022/01/22)
- US GDP growth forecast cut amid epidemic, inflationary pressures; Three major US stock indices fall for third week in a row; LFed policy “sharp U-turn” emerging market currency rally may be affected.
- Market Overview: The overall market capitalisation of cryptocurrencies stood at US$1.607 trillion, down 22.10% from last week.
- Technical analysis: BTC fell suddenly and violently, with the trend line acting as a strong stop. ETH accelerated its decline.
- Stablecoin and Capital flow: USDT repurchased slightly this week. BTC balance in exchanges’ wallets decreased slightly, ETH balance in exchanges’ wallets decreased slightly.
- Miner: The BTC hash rate increased ssignificantly.
- Compliance agency: Grayscale Trust BTC/ETH lock-up volume remains stable this week.
- The BTC futures open interest and exchange basis dropped sharply on the 4th, after which the open interest remained stable, and the basis gradually recovered. BTC-compliant market futures contracts continued to decline in OI, with trading volume kept low. BTC perpetual contract funding rates fluctuated below zero.
- BTC options open interests fluctuated sharply downwards. BTC options IV have an overall slight decrease in all periods. BTC options skew of all periods gathered together.
- The open interests of ETH futures fluctuated slightly this week after a sharp drop on the 4th, with basis kept steady. ETH perpetual contract funding rates fluctuated below zero.
- ETH options open interests declined sharply this week. ETH options IV kept stable in all periods this week, with skew gathered together between different periods.
Weekly Market hot spots :
- A16z seeks to raise $4.5 billion for its new crypto fund.
BTC and ETH Spot Market Analysis
Analysis of Derivatives Market
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