SOTM Apr 4-10, 2024
Welcome to our 167th issue of State of the Market, where we provide an overview of crypto market activity from April 4 - 10, 2024. Bankrupt lender Genesis exits their multi-billion dollar GBTC position, while ETF trading volumes top $200B with [...]
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SOTM November 25-December 1, 2021
Last Friday we saw broader market volatility following the selloff in the equity markets, ending in the worst day for the Dow all year (down about 2.5%). The overall sentiment has been a risk-off rotation following fears of the Omicron [...]
SOTM November 11-17, 2021
The broader market pulled back this week as we came off of last week's all-time-highs. At the time of writing, Bitcoin is back around $58k, over $10,000 from the high; Ethereum trades around $4,000, roughly $850 off its high. Open [...]
SOTM November 4-10, 2021
Another week of all-time-highs with plenty of dynamic market activity to keep things interesting. Bitcoin reached a high of $69,000 this week following a release of inflation numbers, showing the U.S. hitting a three-decade high in October with price increases [...]
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 [...]