We’re excited to bring you the weekly updates, insights, and opportunities to enhance your trading experience with Delta Exchange.
WEEKLY SNAPSHOT
Note: Last Price mentioned in Weekly Returns table are as observed on 21st September, 11:59 AM IST and in the Top 3 Alt Coins table are as observed on 20th September, 11:59 PM IST.
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CRYPTO NEWS
1. Crypto Markets
Crypto had a volatile but resilient week. Bitcoin dropped toward $75K following the CLARITY Act setback and the Fed’s 25 bps hike, before rebounding above $82K- a recovery of roughly 9–10% from the weekly low. ETH recovered toward $2.6K, while SOL, XRP, DOGE and other majors also participated in the rebound.
The initial sell-off triggered more than $600M in crypto liquidations, but BTC’s ability to recover despite a hawkish Fed, regulatory uncertainty. Falling oil prices and easing Treasury yields later helped improve risk appetite.
Source: CoinDesk, CoinGlass
2. BTC & ETH ETF Flows
ETF flows were highly volatile. Bitcoin ETFs recorded $450.4M of outflows on Sep 15 and another $295.9M on Sep 16, before reversing to $159.5M of inflows on Sep 17 and $324.6M on Sep 18. ETH ETFs remained weaker, with combined outflows of more than $400M across Sep 15–17 before returning to a $29.4M inflow on Friday.
Source: Farside Investors
3. Crypto Regulation & Institutional Market
The CLARITY Act failed to advance in the U.S. Senate after falling short of the 60 votes required in the procedural vote. The setback triggered immediate weakness across crypto and contributed to the week’s ETF outflows and liquidations.
Source: Reuters, CoinDesk
4. Fed, Treasury Yields & U.S. Macro
The Federal Reserve raised rates by 25 bps to 3.75%–4.00% on September 16, its first hike since 2023. The Fed said inflation remains elevated and signaled that tighter policy may still be required. Treasury yields initially surged, with the 10-year moving above 5%, before easing as oil prices declined.
Source: Federal Reserve, Reuters
5. U.S. & Global Markets
Wall Street initially sold off after the Fed hike but recovered as oil and yields cooled. The S&P 500 gained about 1% on Thursday and the Nasdaq 100 nearly 2%, while AI and semiconductor stocks led the rebound. Today, U.S. equity futures are also higher, with the recovery spreading across Asian and European equities.
Source: Reuters
6. Gold & Silver
Gold fell immediately after the Fed hike as higher rates and a stronger dollar weighed on precious metals, before recovering as oil prices and Treasury yields eased. Silver followed a similarly volatile pattern and remains sensitive to the dollar and real-rate outlook.
Source: Reuters
7. Oil, Iran & Global Macro
Oil remained the biggest cross-asset macro driver. Brent had surged above $109 amid U.S.–Iran tensions and supply concerns but has since fallen toward $101–$102 as Saudi exports recovered and hopes of U.S.–Iran diplomacy increased. Lower oil is easing inflation concerns and supporting bonds, equities and crypto.
Source: Reuters
OPTIONS OI ANALYTICS FOR UPCOMING WEEK
OI Analytics for the upcoming week: BTCUSD
Heavy put writing starting at $75K has established a strong support base, making a drop below this level highly unlikely. This downside protection is further reinforced by prevailing positive market sentiment. On the upside, significant call writing is evident at the extreme resistance level of $93K.PCR of 8.63 points to extremely bullish conditions for the upcoming week.
OI Analytics for the upcoming week: ETHUSD
Ethereum options display a strongly bullish setup, highlighted by a Put-Call Ratio (PCR) of 3.14 driven by aggressive Put writing. Major Put open interest at the $1,600 strike establishes a robust downside floor, while heavy Call open interest concentrated around $3,100 outlines the primary upside target.
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USA WEEK AHEAD (IST): [HIGH IMPACT DATA]
Thursday, September 24 - President Trump and President Xi Summit
Friday, September 25 - 6:00 PM - Durable Goods Orders MoM
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Delta Exchange Team