OSL Daily Update - June 23, 2020 

$BTC 24 Hour High $9,792.00
$BTC 24 Hour Low $9,315.87
$BTC +3.2%

$BTC seeing positive price action as rumors fly around Paypal launching digital currency services, allowing users to buy, sell and store their platform - these rumors appear to be driven by Paypal having created two public postings seeking crypto engineers. $BTC up +3%, unable to break 9,800 during the late American session as it corrects to 9,700 on 42.7% vol. $BTC futures volumes back up to 11B, open interest moving up 200M to 3.8B aggregated across the top exchanges. 55M short positions liquidated during the move up.


Alt watch:

  • Alts led the charge last night as all of the top coins returned to green with the market cap moving up 10B. $ETH picks up much needed momentum as it breaks through 240 (up 6.4%) with +67% in physical traded volumes to 10.9B overnight. Currently targeting 245 on the next move up with technical charts showing overbought signals after spending the last 7 days in the neutral levels. Trading above 10 day and 30 day SMA lines and at the upper Bollinger bands 
  • $DGB project receiving validation from Binance as it announces DGB/BTC and DGB/BUSD trading pairs, pumping the price up 24% in a day to 0.021. In total, its solid two month performance saw its value go up nearly 90%. 
  • $ADA continues its bull run with +6.5% overnight to 0.084 before correcting back down to 0.083. It’s up 5.6% over the past week. Peaking at 0.09 two weeks ago it’s now looking to challenge that resistance, trading on the upper Bollinger bands and 7% above 30D SMA. 

News that caught our eye:

 

Stay safe and may the trend be your friend!

 

OSL Trader View and Weekend Digest are contributed by Stefan Chu, SJ Oh, and Santiago Nazaretti

 


 

OSL is Asia’s most comprehensive digital asset platform providing brokerage, exchange, software-as-a-service and insured custody solutions to professional investors.

Home to one of the world's largest and most experienced digital asset trading desks, OSL has its finger on the pulse of the market. The Trader View newsletter is a short, easily digested summary of market activity and eye-catching news of the day.

Feedback is important to us, and we’re keen to learn more about the types of insights and intelligence that matter to you most. Please share your thoughts with us.

And be sure not to miss future OSL news and insights by following us on TwitterLinkedinFacebook, and Telegram.

 

 

Please refer to OSL's relevant disclaimers and disclosures associated with this note, including restrictions on redistribution.

SHARE: