This is the first of three reports that step back to look at why crypto has moved up and down since June. Day to day, it is easy to lose sight of the bigger picture.
Every week, usually on Friday, we send out our ‘One Liners: Crypto Market Drivers’ report, which highlights the most important catalysts driving cryptocurrencies that week. This series brings those weeks together into a 20-week review and lines each event up against the weekly returns it produced.
Looking at the full period, a clear pattern emerges. A handful of flow and macro events drove the largest swings, while many headlines that looked important at the time sold off within days. Bitcoin is driven mainly by macro factors, but altcoin drivers are often coin-specific, as Hyperliquid, Zcash, and NEAR will show in one of our next reports.
In this first part, we cover Bitcoin, Ethereum, Solana, BNB, and XRP, with a chart for each showing the weekly move and its main driver. We have kept the charts on a white background in case readers want to print them. Financial markets produce a lot of noise, and revisiting the drivers this way has always helped us remember which events matter and how investors decide their next move.
We have also compiled the charts into a PDF chart book so readers can keep it as a reference and print it.