Crypto Market

BTC and ETH Market Insight

Upcoming Macro Calendar - Source: Trading Economics

Options Market

Over the past week, BTC and ETH markets showed divergent price action after the prior week’s consolidation at elevated levels. BTC pulled back to around $76,392 (from ~$79,500), while ETH continued higher to approximately $2,647 (from ~$2,450). Implied volatility ticked higher across short tenors, with BTC 1W ATM IV rising from ~32.0% last week to ~34.8% and ETH 1W IV increasing more notably from ~39.1% to ~46.9%. Realized volatility moderated for BTC (RV ~30.6%), flipping the volatility risk premium back to positive territory (+4.2%), while ETH RV remained elevated (~52.6%), keeping its VRP negative. Skew stayed mildly call-biased but moderated compared with last week, with BTC 25Δ 1W skew at –2.3% and ETH 25Δ 1W skew at –2.0%. ETF netflows turned predominantly negative for BTC, while ETH recorded mixed but strong inflows toward the end of the week.

Altcoins and Blockchain News

• According to Hypeflows data, Hyperliquid has reached an all-time high of 10.5% in global perpetual futures market share by open interest (including all centralized exchanges such as Binance, Bybit, and OKX).
  
  
• Blockstream tweeted that it will not pay a ransom to recover stolen Bitcoin from the Liquid Network, stating that unauthorized acquisition of assets and refusal to return them constitutes theft, not responsible disclosure or white-hat activity.
  
  
• Chainlink added 91,100 LINK (worth approximately $1.06 million) to its strategic reserve. Over the past 30 days, the reserve has accumulated a total of 511,000 LINK (~$5.52 million).
  
  
• Bitwise Investment Advisers, LLC announced its decision to liquidate and close the Bitwise Dogecoin ETF (BWOW), effective September 10, 2026.
  
  
• Uniswap Labs launched the "StablePair Hook," a new Uniswap v4 hook designed specifically for stablecoin trading pairs such as USDC/USDT and USDC/USDG.
  
  
• On-chain risk protection platform OpenCover announced the expansion of its institutional-grade coverage to the Solana network, initially covering Kamino, Raydium, Orca, and Jupiter. Coverage scope, limits, and terms vary by protocol and position.
  
  
• U.S. Bank has issued its native USD stablecoin, USBDC, on the Stellar blockchain and used it to execute a live cross-border payment between entities in North America and Europe.
  
  
• Prediction market platform Kalshi received approval from the U.S. Commodity Futures Trading Commission (CFTC) to launch gold and silver perpetual futures on September 10, marking the first non-crypto perpetual futures product approved by the CFTC.

Macro

The benchmarks finished the week lower with increasing uncertainty against U.S-Iran strikes and the oil price pressure: the DJIA lost 1.6%, the S&P 500 dropped 1.17%, and the Nasdaq shed 0.66%. The Chinese stock market finished the week lower: the Shanghai Composite Index lost 1.07%, the CSI 300 declined 0.83% and the Hang Seng index fell 3.30%.