Weekly Market Analysis

HTX Research
4 min readSep 13, 2021

2021.09.04–2021.09.10

SUMMARY

Macro environment:

•The Federal Reserve this week “four eagles together”: as soon as possible to announce Taper; U.S. stocks edged lower Thursday, recovering early gains; Non-agricultural employment in the United States increased by 235000, the smallest increase since January 2021.

Spot market:

•Market Overview: Market Overview: Overall cryptocurrency market cap was $2.131 trillion this week, down 6.2% from last week.

•Technical Analysis: BTC stabilized quickly after a big drop. ETH oscillated slightly after a big drop.

•Stablecoin and Capital flow: USDT issued continually this week. USDT premium rate turns from negative to postive. BTC balance in exchanges’ wallets is stable this week, ETH outflow slightly.

•Miner: The BTC hash rate increased slightly.

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

Derivatives market:

•Both BTC futures open interests and basis remained stable after declining. The open interest of CME BTC futures’ contract gradually declined and volume surged before falling back. The funding rates of BTC perpetual contracts changed from positive to negative.

•BTC option open interests rose back to recent high levels. The ultra-long-term IV and long-term IV of BTC options declined slightly, and the difference between the short-term IV and ultra-short-term IV was not significant at the beginning and end. BTC options ultra-long-term and long-term skew were both positive, short-term and ultra-short-term skew declined slightly, turning from positive to negative, and the gap between skew widened.

•The open interests of ETH contracts stabilized this week after falling, falling slightly. The funding rates of ETH perpetual contracts changed from positive to negative.

•The total ETH options open interests rebounded slightly after falling. ETH IV declined slightly across all maturities, with skew declining across all maturities, and ultra-short-term and short-term skew turning from positive to negative.

Weekly Market hot spots :

  • Bitcoin Officially Becomes Legal Tender in El Salvador. Top Gainers and Losers list: The top 3 market gainers are FTM、QNT、ALGO. Market sentiment shifts from greed to fear.

Macro Environment

BTC and ETH
Spot Market Analysis

Analysis of Derivatives Market

Market Hotspots

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HTX Research

Blockchain industry top think tank, affiliated to Huobi Group.