Weekly Market Analysis

HTX Research
4 min readNov 1, 2021



Macro environment:

•President Biden to Announce Framework for $1.75 Trillion Spending Pla; Three major stock indices continue to reach new highs; The initial GDP in Q3 has dropped down sharply compare to last seaso.

Spot market:

•Market Overview: Overall cryptocurrency market capitalization stood at $2.589 trillion, down 0.77% from the previous last week.

•Technical analysis: BTC is volatile and prices are under pressure but not much down overall. ETH hits another ATH as uptrend continues.

•Stablecoin and Capital flow: USDT issue volume increased slighttly this week. USDT premiums upward continuously, 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 and basis roughly kept the same level as last week. BTC perpetual contract funding rates remain positive. BTC-compliant market futures contracts saw a sharp drop and a following callback in both open interest and volume.

•BTC options open interests kept steady. BTC long-term and ultra-long-term options IV kept steady, while short-term and ultra-short-term options IV fluctuated back and forth. The skew of BTC long-term options is up while short-term options under resistance.

•ETH contract open interest kept steady, with basis had a slight increase. ETH perpetual contract funding rates were largely positive except Huobi.

•ETH options open interests rose again after a short pause. ETH short-term options IV slightly dropped, with interval became wider. The skew of ETH options had no significant changes most of the time.

Weekly Market hot spots :

  • Facebook changed its name to Meta. The top 3 market gainers are SHIB, SCRT, and CRV. Market sentiment shifted from neutral to greedy.

Spot Market Analysis

Analysis of Derivatives Market

Market Hotspots



HTX Research

Blockchain industry top think tank, affiliated to Huobi Group.