Huobi Research
Published in

Huobi Research

Weekly Market Analysis (2022/01/16–2022/01/22)

Abstract

Macro environment:

  • 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.

Spot market:

  • 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.

Derivatives market:

  • 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.

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

Disclaimer

1. The author of this report and his organization do not have any relationship that affects the objectivity, independence, and fairness of the report with other third parties involved in this report.

2. The information and data cited in this report are from compliance channels. The sources of the information and data are considered reliable by the author, and necessary verifications have been made for their authenticity, accuracy and completeness, but the author makes no guarantee for their authenticity , accuracy or completeness.

3. The content of the report is for reference only, and the facts and opinions in the report do not constitute business, investment and other related recommendations. The author does not assume any responsibility for the losses caused by the use of the contents of this report, unless clearly stipulated by laws and regulations. Readers should not only make business and investment decisions based on this report, nor should they lose their ability to make independent judgments based on this report.

4. The information, opinions and inferences contained in this report only reflect the judgments of the researchers on the date of finalizing this report. In the future, based on industry changes and data and information updates, there is the possibility of updates of opinions and judgments.

5. The copyright of this report is only owned by Huobi Blockchain Research Institute. If you need to quote the content of this report, please indicate the source. If you need a large amount of reference, please inform in advance (see “About Huobi Blockchain Research Institute” for contact information), and use it within the allowed scope. Under no circumstances shall this report be quoted, deleted or modified contrary to the original intent.

Blockchain industry top think tank, affiliated to Huobi Group.

Recommended from Medium

Number of exchanges featuring UCoin is growing!

How Bitcoin’s false expectation of anonymity brought down one of the world’s largest child…

2021: The Year of the Alts

How to Participate in Milione DeFi and earn “MAP”

How to Build a Decentralized Exchange Like PancakeSwap

The Current Climate of Cryptocurrency — Part 1

No Governance For Old Men: Coordinating Protocol Upgrades In The Future

Finance Unchained — Trading SPL Tokens Privately

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.

More from Medium

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

CryptoFinance Metrics | 12.22.2021

Huobi Ventures Weekly Report #14

DAO Governance: How to Decentralize Payroll