Bitcoin broke above $80K over the weekend after Donald Trump’s U.S. election win last week spurred a broad market rally. ETH is also up by over 30% since November 5, outpacing BTC for the first time in months. Meanwhile, a consortium of crypto companies launched a USD-backed stablecoin, and the U.S. SEC delayed its decision on spot ETH ETFs options.

Ahead of the US election, this week we’re revisiting the topic as a follow-up to our Deep Dive coverage from last week. We’ll examine key metrics to monitor as the election night approaches and explore the following:

Bitcoin’s price regained ground in the early hours of Monday after pulling back on Friday, following a WSJ report that U.S. regulators are investigating Tether, the issuer of the largest stablecoin. Meanwhile, Kraken announced plans to launch its own Layer 2 solution by 2025, and Robinhood debuted presidential election betting.

This week we’re peeling back the data on the upcoming US election. For the first time in 2024 digital assets have been a talking point during the Presidential campaign. Republican candidate Donald Trump promises to embrace Bitcoin and blockchain technology, while Democrat Kamala Harris has begun to address the crypto lobby.

Bitcoin gained more than 5% last week despite Tesla moving $765 million of its BTC holdings to an unknown wallet. Meanwhile, DeFi protocol Radiant Capital halted lending after $50mn exploit, Singapore’s largest bank introduced tokenized banking services, and Robinhood announced it will launch BTC and ETH futures trading.

This week, we’re looking at wash trading on cryptocurrency exchanges, focusing on the FBI’s recent investigation, and exploring the metrics to use for raising concerns about market manipulation in crypto markets.

Last week saw significant regulatory developments in the cryptocurrency space. The U.S. Securities and Exchange Commission (SEC) charged Cumberland, one of the oldest liquidity providers in crypto, with operating as an unregistered broker-dealer. In a separate case, the SEC, in conjunction with the Department of Justice (DOJ), took action against several companies and individuals allegedly involved in wash trading.

Altcoins joined the rally last week after China announced its largest stimulus package since the pandemic, boosting risk-on demand. In other news, BNY Mellon has received approval from the US SEC to offer crypto custody.

Bitcoin neared $64K in the early hours on Monday after strong jobs data in the US dispelled recession fears. Meanwhile, Bitwise filed for a spot XRP ETF, while the U.S. SEC appealed the $125mn fine in its four-year legal battle with XRP’s issuer. Elsewhere, Kraken launched a derivatives platform in Bermuda.

Altcoins joined the rally last week after China announced its largest stimulus package since the pandemic, boosting risk-on demand. In other news, BNY Mellon has received approval from the US SEC to offer crypto custody.

This week, we’re looking at crypto options markets, focussing on implied volatility and what it tells us about market sentiment and risk perception.

Bitcoin rose by more than 8% last week after the Fed kick-started its easing cycle with a surprise 50 basis points rate cut. The US SEC approved the listing and trading of options for BlackRock’s BTC ETF, and US Presidential candidate Kamala Harris stated that she would “encourage innovative technologies” such as digital assets.

Bitcoin closed the week higher amid rising hopes for a jumbo rate cut at this week’s Fed meeting. Meanwhile, Donald Trump announced the launch of a DeFi platform today. Grayscale revealed the creation of its first closed-end XRP trust in the US, and trading platform eToro reached a $1.5 million SEC settlement.

Bitcoin’s price whipsawed following a disappointing US jobs data on Friday. In other news, Uniswap Labs settled charges from the CFTC over allegedly illegal leveraged and margined commodity trading, VanEck announced it will liquidate its ETH futures ETF, and the Fed issued a cease-and-desist order against crypto-friendly United Texas Bank.

This week, we’re going to take a closer look at liquidity in the context of BTC’s supply overhang. Namely, we’ll examine what to watch as Mt. Gox redistributions continue and governments sell their BTC holdings.

Crypto markets whipsawed despite encouraging US inflation data last week. As of Q2’s end, Goldman Sachs and Morgan Stanley held significant positions in various Bitcoin ETFs, according to recent quarterly filings. Elsewhere, Binance settled its fine with India’s Financial Intelligence Unit, as it eyes a return to the Indian market.