Weekly Market Analysis (2021/11/06–2021/11/12)

Huobi Research
Nov 15, 2021 · 4 min read

SUMMARY

Macro environment:

•U.S. CPI exceeds expectations again in October; The S&P 500 and Nasdaq Composite both rose Thursday, rebounding from Wednesday’s losse; Fed warns of rising risk asset prices, fueling collapse fears

Spot market:

•Market Overview: Overall cryptocurrency market capitalization stood at $2.791 trillion, up 3.6% from the previous last week.

•Technical analysis: Both BTC and ETH have fallen back quickly after hitting new highs in a row, with the uptrend unchanged.

•Stablecoin and Capital flow: USDT issue volume increased slightly this week. USDT premium continued to be negative, BTC balance in exchanges’ wallets outflowed slightly, ETH outflowed slightly.

•Miner: The BTC hash rate increased slightly.

  • Compliance agency: Grayscale Trust BTC/ETH lock-up volume remains stable this week.

Derivatives market:

•BTC futures open interest kept the same level as last week, with basis slightly lower than last week. BTC-compliant market futures contracts saw a slight increase in OI, and a continuously low trading volume. BTC perpetual contract funding rates remain positive.

•BTC options open interests increased by 15%. BTC options IV maintain stability in all periods. Long-term and ultra-long-term skew of BTC options continued to fall this week, short-term skew fluctuated around zero.

•ETH contract open interest increased slightly, with basis roughly reduced by 1%. ETH perpetual contract funding rates were largely positive, and tended to be stable.

•ETH options open interests increased sharply this week. ETH options IV keep stable in all periods. Long-term and ultra-long-term skew fell sharply.

Weekly Market hot spots :

  • AMC, the largest cinema operator in the US, accepts Bitcoin, Ether, Bitcoin Cash, Litecoin for online payments

Macro Environment

BTC and ETH
Spot Market Analysis

Analysis of Derivatives Market

Market Hotspots

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.