CCData's weekly ‘Chart of the Week’ highlights topical digital asset developments with vital commentary and analysis.
In this week's Chart of the Week, we examine BTC's daily returns so far in 2025. More days have posted positive returns than negative, highlighting Bitcoin’s resilience in the market. Monday has been the strongest day, averaging a 1.55% gain, followed by Friday’s 1.06%, suggesting bullish momentum leading into the weekend. Meanwhile, Sunday (date) recorded the most extreme downside, with an average return of -1.32%, making it the weakest day of the week.
BTC’s price movements have been largely influenced by key announcements from the Trump administration and a series of macroeconomic events, including the release of CPI data as well as the latest FOMC meeting. Despite these mid-week catalysts, Wednesday and Thursday (date) returns remained relatively flat, at 0.12% and 0.11%, respectively.
This week’s Chart of the Week highlights May’s correlation of daily returns between BTC, ETH and the SP500, falling to 15.8% and 18.2%, respectively, the lowest level since August 2022.
Digital assets have benefitted from a significant price appreciation following signs that tight monetary policy and high interest rates may soon reach their peak. This comes after the recent collapse of Silicon Valley Bank, causing a stir in the banking system, and amplifying the interest in digital assets.
The depegging of USDC and regulatory issues with BUSD has led to Binance converting $1 billion of their Industry Recovery Initiative funds to BTC, ETH, and BNB, triggering further buy pressure for digital assets.
In this week's Chart of the Week, we look at the open interest for BTC instruments on centralised exchanges which has been on an uptrend since August, recording a multi-year closing high of $14.6bn on January 2nd as markets anticipate the potential approval of spot Bitcoin ETF applications by the SEC.
However, with leverage and funding rate being high, the market is more susceptible towards sudden liquidation cascade as reflected in the price action of BTC, which wiped nearly $1.28bn in open interest within 2 hours as the price of Bitcoin following reports of a possible delay in the ETF approval.
This week's Chart of the Week highlights the top 10 highest-scoring projects in our ESG Benchmark, created in partnership with CCRI (Crypto Carbon Ratings Institute), to evaluate ESG parameters and provide ratings for top digital assets.
Having recently released our latest results, we find Ethereum maintaining the top spot, followed by Solana and Polkadot, with slight improvements noted across the board. Cumulatively, the top 10 all score either AA or A, with scores comfortably above the 65 score threshold required to achieve 'Top-Tier' status.
This week's Chart of the Week highlights two exchanges, Bybit and OKX, which reached all-time highs in terms of combined Spot/Derivatives market share. Bybit now captures an aggregated 11.94%, whilst OKX captures 20.2% in November - a combined market share of over 32%!
This achievement for both exchanges highlights the shifting CEX landscape, since Binance recently agreed on a settlement with the DOJ, and Coinbase's SEC case remains unsolved. Both OKX and Bybit were the only exchanges to score AA in our latest Centralised Exchange Derivatives Benchmark, underscoring the uptick in demand observed in November.
In this week’s Chart of the Week, we observe how the open interest for BTC futures on CME rose by 20.9% to a yearly high of $4.11 billion in November. The exchange has now achieved the largest market share for open interest in BTC futures, surpassing Binance, which currently holds an open interest of $3.76 billion.
The rise in open interest on the CME exchange highlights the increase in institutional interest in Bitcoin as the markets anticipate the potential approval of a spot Bitcoin ETF next year.
In this week’s Chart of the Week, we examine the market's reaction from yesterday when Bloomberg broke the news that the US is seeking more than $4 billion to settle its case against Binance. The exchange has been embroiled in legal challenges with the Commodity Futures Trading Commission (CFTC) and the Securities Exchange Commission (SEC) since March and June, respectively. Accusations include operating an illegal derivatives exchange and promoting non-compliant actions, such as using VPNs and offshore entities to evade geographical restrictions. Overall, this news initially led to a negative reaction before BNB bounced 15% in a matter of minutes as the market digested the possibility of a resolution to this overhang that has existed since Q1 of this year. More clarity for Binance is bullish for BNB and the market, as evidenced by the intraday performance captured by CCData.
The news casts a light at the end of the tunnel for Binance, with the potential for a full resolution in the coming months, despite the heavy charges. If the reports are accurate, it also removes a lot of uncertainty from the market, given that more severe actions against Binance could be detrimental to the industry.
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