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.
This week's Chart of the Week shows that BTC's dominance has significantly increased since the beginning of October. This uptick in dominance has been observed as major alternative cryptocurrencies have struggled against Bitcoin, a trend typically seen during bear markets.
BTC's dominance, particularly when compared to ETH, has been steadily increasing, with ETH experiencing a negative return of 7.45% against Bitcoin. Additionally, other cryptocurrencies, such as LINK, DOT, and AAVE, have also witnessed declines of 12.9%, 8.87%, and 7.23%, respectively, indicating a broader trend of underperformance among these assets in relation to Bitcoin.
In this week's Chart of the Week, we take a look at ETH futures, which began trading on October 2nd, but experienced lower-than-expected trading volumes. This disappointed many investors who had anticipated an increase in assets under management (AUM) for ETH products following the approvals.
Over the initial two days of trading, the total trading volumes for the products amounted to $2.53m. This trend was consistent with what was observed in September, where trading volumes significantly decreased, marking the lowest volume recorded in the year 2023.
In September, FDUSD, a stablecoin issued by a subsidiary of First Digital Limited, a financial firm headquartered in Hong Kong, experienced a significant increase in trading activity on Binance.This surge in volume coincided with Binance's decision to eliminate trading taker fees for BTC-TUSD pairs and the announcement of the discontinuation of major BUSD pairs on the exchange. Additionally, Binance introduced zero trading fees for BTC-FDUSD spot and margin pairs, further contributing to the rise in FDUSD trading volumes.
Using a 7-day moving average, we observed that the trading volume of BTC-FDUSD witnessed an astonishing 905% growth since the beginning of September (data up till the 25th). In contrast, during the same period, BTC-TUSD and BTC-BUSD experienced declines of 92.3% and 45.7%, respectively.
In this week's Chart of the Week, we are examining the significant surge in the price of The Open Network (TON) since August, a period during which it has appreciated by over 100%.
This surge coincided with the launch of its TON-based wallet on Telegram, which offers custodial options. While Bitcoin and other major altcoins experienced minor drawdowns in the past month, the #TON token seized the opportunity to rise into the top 10 assets by market capitalisation, (based on circulating supply.)
In this week's "Chart of the Week," we explore the challenges that SOL's price has encountered over the past few months, which have largely stemmed from repercussions related to FTX. Currently, FTX controls a significant portion of the $SOL supply, a circumstance that could potentially induce substantial selling pressure if it decides to liquidate its holdings.
From August 1st to September 11th, SOL experienced notable losses against major cryptocurrencies, with declines of 13.2% against BTC, 10.7% against ETH, 12.6% against BNB, and 25.0% against TRX. Despite these concerns, it is important to note that a substantial portion of the SOL held by FTX will remain locked until it fully vests in 2028.
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