SOTM Jan 18-24, 2024
Welcome to our 156th issue of State of the Market, where we provide an overview of crypto market activity from January 18 - 24, 2024. This week in crypto markets: Bitwise becomes the first ETF issuer to disclose their on-chain Bitcoin address, [...]
Recent
SOTM October 28-November 3, 2021
The market continues to melt-up. While Bitcoin remained trading in a relatively flat range, Ethereum and other layer 1s marched to all-time highs. Notably Solana is up 32.3% over the past week and has broken into the top 5 by [...]
SOTM October 21-27, 2021
The momentum has cooled down a bit as we move away from the ETF listing. Bitcoin retraced a portion of last week's gains. The steady increase in open interest across the futures was reduced after a swift pull back in [...]
SOTM October 14-20, 2021
The past week has been one for the record books for multiple reasons: the start of trading for the first Bitcoin ETF, record high open interest in dollars and contracts in the Bitcoin Futures on the Chicago Mercantile Exchange, and [...]
SOTM October 7-13, 2021
The risk-on sentiment continues this week as we march closer towards potential ETF approval. At the time of writing, Bitcoin trades at $57k in a price range not seen since May. The futures basis spread has started to widen once [...]
SOTM September 30-October 6, 2021
Gradually, then suddenly. The Earnest Hemmingway line on bankruptcy applies well to the past week's Bitcoin price action.. After retreating into September's futures expiration and monthly close, Bitcoin began October with a swift move from a range around $42k to [...]
SOTM September 23-29, 2021
The market-wide risk-off sentiment continued this week as we continued to trade the chop. Last Friday, the asset class pulled back swiftly on news that China was banning cryptocurrency for the sixth time in recent memory. This action does follow [...]
SOTM September 16-22, 2021
Volatility picked up this week as we moved in on the futures and options expiration for September. Selling picked up Sunday evening as the S&P futures opened and continued throughout Monday. Financial pundits are connecting the risk-off move to a [...]
SOTM September 9-15, 2021
Markets remained flat this week following a slight recovery from last week's pullback. Bitcoin currently trades around $48k and Ethereum around $3,600. Significant price action did take place for Solana (SOL), a favorited chain by early VC investors and influencers [...]
SOTM September 2-8, 2021
Last week we noted that open interest was once again increasing, and this week a good portion of that was flushed out of the system. After a swift pull back across crypto markets on Monday, with Bitcoin Falling form a [...]