Weekly Market Playbook

Crypto markets have remained active, but not without turbulence. Price action over the past week has been driven less by long-term fundamentals and more by flows, positioning, and leverage, which continues to create sharp moves in both directions.

Bitcoin is still setting the tone for the entire market. Spot demand has held up well, but rallies have repeatedly run into friction as leverage builds too quickly. When funding rates rise and positioning becomes crowded, even minor pullbacks can cascade into larger moves as forced liquidations kick in. These resets, while uncomfortable, have been a healthy way for the market to cool off and rebuild.