Global markets experienced heightened volatility over the past week, driven by recurring geopolitical tensions and stronger than expected economic data. Shifting signals from the United States and Iran pushed oil prices higher, with WTI rising more than 7% on the week. Solid retail sales, ISM readings, and nonfarm payrolls supported a rebound in equities, while precious metals reached new highs. Crypto assets moved in line with improving risk appetite, with Bitcoin approaching the 70,000 resistance level. Overall, macro factors continue to dominate market direction, with capital allocation remaining cautious and increasingly structural.
Weekly highlights:
- Market focus: Recurring geopolitical tensions combined with resilient economic data supported gains in oil and precious metals, while risk assets saw a short term rebound and crypto followed improving sentiment.
- Liquidity: BTC ETFs recorded modest weekly net inflows of about $22.3 million, an improvement from the prior week but still limited, while ETH ETFs continued to see net outflows. Quarter end rebalancing and holiday effects led to rapid reversals after initial inflows, reflecting continued caution.
- On chain: TradFi trading activity concentrated in oil and precious metals, DEX structure reshuffled, and Meteora volumes increased significantly. Stablecoin supply remained elevated, with DAI and USDS absorbing incremental flows, while Aave lending activity rebounded.
- Derivatives: BTC funding rates returned to around zero, open interest declined from roughly $23 billion to about $21 billion, and options positioning shifted toward the short end, indicating a focus on short term hedging.
- Outlook: Key events to watch include the FOMC minutes, CPI data, and token unlocks such as HYPE.
- Institutional update: Gate institutional business continues to expand, with institutional trading share increasing significantly among leading exchanges, as spot and derivatives shares rose 18% and 45% respectively on a week over week basis; funding business scale continues to grow, while CrossEx ecosystem development and low latency optimization continue to progress.
Discover more details → Gate Institutional Weekly: Geopolitics and Macro in Dual Drive, Caution Ahead of FOMC and CPI (March 30–April 5, 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
April 8, 2026
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