September 2020 in numbers: Bitcoin, Uniswap, Steiblcoins
Bitcoin began September with a positive note – in the early days the price began as an ascending movement to $ 12,000 after some correction from reaching $ 12,500 in August. For the third number, the bears lowered the price of $ 11,100, to the past level of support, and then to a psychological mark of $ 10,000, making several unsuccessful attempts to sell the price even lower. In general, the month passed without much volatility – BTC quotes moved in the $ 1000 range.
4-hour graph BTC/USD Exchange Bitfinex. Data: TradingView.
As a result, September turned out to be negative for bitcoin (-7.8%). Despite this, the third quarter the first cryptocurrency completed in the green zone (with +17.98%). In addition, Bitcoin set a record for staying above $ 10,000, which as of October 1 lasts 66 days. At the end of 2017, trading did not open and did not close for BTC below $ 10,000 for 62 days.
The results of the quarter (%). Data: SKEW.
Market moods and correlations
Cryptocurrency “Index of Fear and Greed” during September was mainly in the neutral zone – above the mark of 40. This indicates a relative tranquility in the market and the low price volatility of BTC.
Dynamics “Index of Fear and Enjoyness” in September 2020. Data: Alternative.me.
Data for 1.ten.2020.
However, the dynamics of Google Trends on request ‘Bitcoin’ remains negative. A decrease in the indicator may be facilitated by the absence of periods of sharp upward movement, as in early May or late July.
Google Trends dynamics on request “Bitcoin”. Data: Google Trends.
The first cryptocurrency correlates with other popular coins, especially with Ethereum and Litecoin. In addition, Bitcoin has a positive statistical relationship with gold-0.51 (90-day indicator as of 1.ten.2020), as well as with index S&P 500 – 0.41. This means that turbulence in global financial markets to some extent affects the prices of most crypto assets.
The volume of trading
The daily volume of trading, billion $. Data: Coingecko.
The volume of trading of cryptocurrencies in September followed the price – the main activity fell at the beginning of the month when Bitcoin falls from $ 12,000 to $ 10,000. Closer to the end of September, the volatility of the first cryptocurrency, like the activity of traders, has decreased.
Bitcoin and Ethereum futures. Data: SKEW.
Bitcoin and Ethereum options trading volume, million. Data: SKEW.
The price activity was traditionally accompanied by a stir in the derivatives market – the trade volume of futures for bitcoin and Ethereum was significantly higher at the beginning of the month, smoothly decreasing by the end of September along with the volatility. A slightly different situation has developed with Bitcoin and Ethereum options-the traditional expiration of derivatives on the Deribit exchange takes place at the end of the month (in September, more than 90 thousand BTC contracts have expired).
Activity on regulated sites
The dynamics of long and short positions of hedge funds and other large players (non-commercial) on CME. Data: CFTC report.
Positions of small players. Data: CFTC report.
On the Chicago Machine Exchange (CME), the vast majority of small market participants continue to remain on the side of the bulls. Among hedge funds and other major players, short positions are not prevailing.
Open interest in bitcoin shops on CME. Data: CFTC report.
Open interest in CME continued to reduce after https://gagarin.news/news/an-intrigue-from-the-creator-of-shiba-inu/ reaching a record level in August-mainly due to low volatility and correction of bitcoin.
The dynamics of the positions of large investment players (Commercial) on Cme. Data: CFTC report.
Since the end of July, only one institution has been “ruled” on the market, which accounts for only about 1% of the open interest. Until mid -August, this large player gradually increased long positions, after – actively closed. By the end of September, the institution closed all the longs, opening 70 short positions.
TOP-20 Defi-tokens by market capitalization as of 1.ten.2020. Data: Messari.
TOP-3 Defi project at the cost of blocked funds, billion. Data: Defi Pulse.
September marked the first significant correction for the tokens of the Defi segment. Only the Uniswap decentralized exchanger token presented on September 17, the UNISWAP decentralized exchange showed positive dynamics. The platform itself returned lost liquidity – as a result of September, the indicator of blocked funds exceeded $ 2 billion.
The dynamics of the value of funds blocked in the Defi sector. Data: Defi Pulse.
Data: Trading View.
Despite the correction, September became a record for the total volume of blocked funds in the segment – $ 11.23 billion. Particular attention of the community was attracted by one of the most popular Defi-tokens of the YEARN FINANCE (YFI) protocol, which at the beginning of the month updated the price maximum at marks above $ 40,000. By the end of the month, he lost 55% of the cost.