Weekly Market Analysis
2021.07.24–2021.07.30
Macro environment:
FOMC statement says the economy has made progress towards reducing QE. The three major U.S. stock indexes hit new highs. U.S. economic growth in Q2 fell short of expectations.
Spot market:
Technical Analysis: BTC rose sharply this week, pay attention to the breakthrough above. ETH continues to rise this week, pay attention to the continuation of the upward trend.
Stablecoin: USDT repurchased slightly this week. USDT premium rate continues to be negative.
Miner: The BTC hash rate fluctuated at low levels.
Compliance agency: Grayscale Trust BTC/ETH lock-up volume remains stable this week.
Derivatives market:
BTC futures open interests increased slightly. The general basis increased slightly; The open interest of CME BTC futures’ contract increased first and then decreased. The trading volume increased and then decreased; The funding rate of BTC perpetual contracts was basically positive;
BTC option open interests continued to increase; All term of BTC ATM IV increased, the super-short and short term increased more greatly; Super short-term and short term skew increased more greatly, both of which turned from negative to positive. The differences between all term maturities skews gradually shrink.
The open interests of ETH contracts increased slightly. The general basis gradual increased. ETH perpetual contracts funding rate was basically positive.
Total ETH options open interest continued to increase. Short and super-short term IV increased slightly. Long and medium term IV remained stable. The differences between all maturities skews are gradually narrowing.
Weekly Market hot spots :
Zuckerberg claimed to build Facebook into a meta-universe company within 5 years.
Macro Environment
BTC and ETH Spot Market Analysis
Analysis of Derivatives Market
Market Hotspot
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Huobi Research was founded in April 2016 and started research and explorations in various aspects in Blockchain area since March 2018. We cover various fields such as Blockchain technology research, industry analysis, application innovation and economic model explorations. We aim to establish a research platform and to offer theoretical foundations as well as judgements of trends in Blockchain to the public, ultimately promoting the development of the Blockchain industry.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
