Softer CPI Reprices July Hike Risk & Lifts Digital Assets
Digital assets extended their recovery over the past week as cooler US inflation prints repriced Fed expectations; the bid was broad across the large cap indices, growth factor leadership returned, stablecoin funding repriced lower, and stress stayed isolated in names hit by token-specific news.
Mark Pilipczuk
Non-Programmable Tokens Lead Rebound as Hedging Demand Softens
Digital assets rebounded broadly over the past week as a soft US jobs print pared rate-hike fear and ETF flows turned positive. Payments and settlement names led, breadth favored diversified exposure, implied volatility compressed, and Bitcoin front-end funding eased toward its term curve.
Gabriel Selby
Implied Volatility Premiums Rise as Macro Risks Loom
Digital assets fell across the board last week as a hotter inflation print and steady ETF outflows met a risk-off market. The decline was uniform, with little to separate large caps; only a value tilt and two DeFi names held up as implied volatility rebuilt a premium.
Mark Pilipczuk
Bitcoin Implied Volatility Holds Steady Despite Hawkish Fed
Digital assets gave back ground this past week as a hawkish first meeting under the new Fed chair repriced rates and the dollar, pulling the complex lower. The move was broad rather than rotational, growth and value led the factor tape, and implied volatility held flat as realized rose to meet it.
Gabriel Selby
BVX Compresses as BTC Round-Trips a Three-Year Inflation Shock
Digital assets finished near flat, round-tripping a three-year inflation high and renewed conflict that moved the tape intraday then reversed. Defensive factor positioning continued, implied volatility eased toward realized, and the sharpest move was a decentralized-AI bid in infrastructure.
Mark Pilipczuk
Hot Data Fuels “Higher for Longer” Fears as Market Sell-Off Accelerates
Digital assets sold off broadly this week, and the through-line was macro: hot US data repriced the rates path higher and risk came off across the complex. Implied volatility jumped, low-beta factors led, and front-end funding dislocated as positioning unwound. Record ETF outflows added pressure.
Mark Pilipczuk
An Orderly De-Risking: Defense Leads, DeFi Bears the Brunt
An orderly de-risking, not a capitulation. Digital assets fell broadly but in a tight band, with defensive factors leading and the stress concentrated in DeFi. Volatility stayed calm, and the move in Bitcoin funding looked more like a positioning unwind than a change in regime.
Gabriel Selby
Weekly Index Highlights, May, 25, 2026
Digital assets traded mixed over the past week, with AVAX +1.5%, SOL +1.3%, and XRP -2.1%. Meanwhile, BVXS implied vol. fell to 37.31 as realized vol. compressed faster to 21.92. The CF Broad Cap Index (Free Float Market Cap Weight) eased 0.24%, leaving it 17.3% lower YTD.
CF Benchmarks
Weekly Index Highlights, May, 18, 2026
Digital assets gave back some recent gains over the past week, with BTC -3.6%, ETH -5.7%, and SOL -9.3%. Meanwhile, our BVXS implied volatility index ticked up to 40.50 while realized vol. fell sharply to 30.92. BTC's session rate also stood out, +643 bps while most term tenors and USDT rates fell.
CF Benchmarks
Weekly Index Highlights, May, 11, 2026
High-beta large-cap digital assets mostly extended gains over the recent week, with LINK up 11.6%. Mega caps benefited less though, with BTC +1.9% and ETH actually dipping 0.9%. Still, volatility cooled: BVXS implied vol. index was -5.21, and front-end funding eased sharply: BTC SIRB fell 260 bps.
CF Benchmarks
Weekly Index Highlights, May, 4, 2026
Crypto large caps only extended gains selectively in the recent week, with Bitcoin +1%, ETH +0.3%, as most others fell. Web 3.0, Culture and DeFi indices also slipped. The BVXS implied vol. gauge eased within an edgy regime, and Bitcoin's session funding split sharply: in BTC up, in USDT lower.
CF Benchmarks
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