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 delve into the notable shift in the digital asset market landscape. Binance saw its market share decrease by 10.8% (as of May 20th) following the removal of zero-fee trading for USDT.
In this reshuffled field, Bullish, OKX, BitMEX, and Bybit have emerged as the biggest beneficiaries. They've gained 1.55%, 1.44%, 1.25%, and 1.04% in market share, respectively.
In this week's Chart of the Week, we take a closer look at the BTC-USD market behaviour from the past week. On BinanceUS, the BTC-USD pair exhibited a premium of $388.17, representing a 1.36% discrepancy when compared with CCData's Aggregate Price (CCAGG).
The marginal rise in premiums is likely driven by declining liquidity tied to the prevailing market sentiment and ongoing banking issues encountered by BinanceUS.
In this week's Chart of the Week, we examine the market depth of various BTC trading pairs on Binance. CCData’s spot Order Book data reveals that since Binance announced zero-fee trading for TUSD pairs on March 22nd, the 1% market depth for BUSD and USDT has decreased by 54.0% and 48.5%, respectively, as of April 30th.
Concurrently, the 1% market depth of the BTC-TUSD pair on Binance has experienced a 285% increase, solidifying its position as the second-largest pair on the exchange in April.
This week's Chart of the Week illustrates the influence large-scale sell-offs have on Bitcoin's price and volatility. Since the final week of April, considerable liquidations have been in motion, pushing Bitcoin downward from the $30,000 zone to ~$27,000.
For instance, on May 1st at 2:38 am, a transaction of 222 BTC was executed on Binance for the BTC-USDT pair. Following this transaction, the BTC price receded from $29,200 to $29,100.
This week's Chart of the Week delves into the exciting news of Coinbase and Gemini's upcoming launch of their derivatives platform and Deribit's recent addition of spot trading.
With this in mind, we examine the market share of exchanges that provide both spot and derivatives trading.
Despite the competition, Binance has the largest market share 38.7% (spot) and 64.3%(derivatives) respectively.
However, other exchanges have experienced varying levels of success in each category. For example, Bybit, the second-largest derivatives exchange with a 14.5% market share, holds only 0.92% of the spot market share.
Get our latest research, reports and event news delivered straight to your inbox.