Over the past week, markets diverged ahead of key macro events, with mixed performance across U.S. equities. BTC and ETH fell 1.97% and 4.48%, respectively. Spot BTC and ETH ETFs recorded net outflows of $228 million and $320 million, respectively. While outflows narrowed week over week, institutional sentiment remained cautious. Gate TradFi weekly trading volume rebounded to nearly $100 billion, with a higher share of trading in indices and ETFs. On-chain liquidity continued to contract, with stablecoin supply declining by approximately $1.42 billion and Aave borrowing balances falling 2.5%. In derivatives, BTC OI edged higher and funding rates remained positive throughout the week. However, put options dominated trading and 25D skew remained negative across all maturities, indicating sustained demand for short-term downside protection.
Key Market Highlights:
Market Focus: U.S. equities showed mixed performance, with the S&P 500 down 1.95% for the week and the Dow Jones up 0.67%. BTC and ETH fell 1.97% and 4.48%, respectively.
ETF Flows: Spot BTC and ETH ETFs recorded net outflows of approximately $228 million and $320 million, respectively, down 66.36% and 40.96% week over week. Redemption pressure eased at the margin, but institutional sentiment remained cautious.
Gate TradFi: Weekly trading volume rebounded to nearly $100 billion. Indices and ETFs accounted for a larger share of Perp DEX trading, while stock trading became more diversified across ETFs and Asian markets.
On-Chain: Stablecoin supply declined by approximately $1.42 billion, and Aave borrowing balances fell 2.5%. EVM DEX trading volume recovered, while spot liquidity on Solana weakened.
Derivatives: BTC OI rose 1.23% week over week, with funding rates positive throughout the week. Put options dominated trading, while 25D skew remained negative across all maturities and short-dated downside skew deepened, pointing to sustained demand for short-term downside protection.
Discover more details today → Gate Institutional Weekly: Gate TradFi Trading Activity Rebounds, On-Chain Deleveraging Continues (October 12–18, 2026)
Gate Research is a comprehensive blockchain and cryptocurrency research platform that provides deep content for readers, including technical analysis, market insights, industry research, trend forecasting, and macroeconomic policy analysis.
Disclaimer
Investing in cryptocurrency markets involves high risk. Users are advised to conduct their own research and fully understand the nature of the assets and products before making any investment decisions. Gate is not responsible for any losses or damages arising from such decisions.
Gate Team
October 21, 2026
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