Tessellations

  • Bitcoin x equity correlation rises to highest in 10 months
  • UST becomes 3rd largest stablecoin
  • ApeCoin rallies 55% on land drop rumours
Source: TradingView
Source: Skew
Source: Arcane Research
Source: TradingView
Source: TradingView
  • BTC was unchanged (-0.1%) while ETH slid -1.9% respectively on the week (8am). The total market cap of the crypto market just shy off $1.9tln mark and Bitcoin dominance hovered above 41%
  • Among other majors, EOS rallied +3.8% driven by EVM support launch this week, among dexes SUSHI rose +4.7% this week
  • The annualized realized volatility in crypto markets did not change- 67% for BTC and 78% for ETH this week
  • US Equities (SPX) dropped -1.2% as investors priced in more aggressive tightening measures by Fed to fight inflation
  • Treasuries sell off resumed,10 year US treasury yields rose +21bps as Fed endorsed possibility of two or more +50bps hike in interest rates while addressing labor market
  • The US Dollar index climbed +80bps while the Gold & Silver index plunged -6.6%
  • Heavily bid client pad (only buyers) during last week
  • Flow dominated by buyers in ETH and SOL
  • Buyers of BTC and EOS in modest volumes

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