Charts of the Week

Bitcoin Remains Stagnant

  • On Sunday, Jan 1, at about $16,600 Bitcoin continues to stay in its low-volatility zone.

  • From a technical perspective, Bitcoin trades well below its 200-week moving average which is around $24,465.

  • BTC is approximately 32% below its 200-week MA which is a record low compared to its previous cycles.

On Chain Dynamics

The number of new Bitcoin addresses hovered around the $400,000 mark throughout 2022. The indicator closed at 410,140 on Dec 31 after its peak of 471,778 in November. 

Traders Slightly Optimistic

  • BTCUSDT open interest on Binance Futures slightly recovered towards the end of December after experiencing a sharp decline during the middle of the month.

  • On Binance Futures, the BTCUSDT Long/Short Ratio closed on Jan 1 at 2.22, as 68.96% of all Binance Futures accounts with an open position in BTCUSDT were net long. 

Weekly Market Movers

The BTCBUSD,  ETHBUSD, and DEFIUSDT Futures Perpetual Contracts had a negative week-over-week return of -1.42%, -1.33%, and -3.75% respectively. Meanwhile, the BNBBUSD Futures Perpetual Contracts had a positive week-over-week return of +0.72.

***Note: DEFIUSDT is a composite index perpetual contract that consists of a basket of DeFi protocol tokens listed on Binance. It is calculated using weighted averages of DEFI tokens’ real-time price on Binance and is denominated in USDT.

Find out more about DEFI Index and trade DEFIUSDT.

News Roundup

  • 3Commas API Leak - An anonymous Twitter user, who published 10,000 API keys belonging to users of the crypto trading service 3Commas claims to have obtained around 100,000 API keys.

  • New Payment Methods Added - In a latest update, Binance users will be able to purchase cryptocurrency using Apple Pay and Google Pay.

  • Nigeria Secures First Place - Nigeria accounts for 40.5% of crypto holders among the 33 African countries, followed by South Africa and Kenya.

  • WEF Embraces Blockchain - In a latest report from WEF, the international organization stated that “the embrace of crypto technology is equally inevitable”.

Highlights From This Week

New Updates

  • Leverage and Margin Tiers - Binance Futures adjusted the leverage and margin tiers of multiple USDⓈ-M Perpetual Contracts and the maximum leverage of multiple 1230 Quarterly Contracts on Dec 29.

***Note: Binance encourages our users to trade responsibly. Trading can be engaging and fun, but trading is a serious business, and it can lead to financial and emotional distress. Trading derivatives carries risk, and cryptocurrencies and other digital assets often have high levels of price volatility.

Risk Warning: Futures trading is subject to high market risk, and all of your margin balance may be liquidated in the event of adverse price movement. The value of your investment can go down or up, and you may not get back the amount invested. Binance is not liable for any losses you may incur and does not provide financial advice. For more information, see our Terms of Use and Risk Warning.