OSL Daily Update - June 24, 2020
$BTC 24 Hour High $9,670.54
$BTC 24 Hour Low $9,547.25
Digital asset markets cooled down for the most part with $BTC volatility flatlining overnight (on a trading range of 120). $BTC volumes dropped 21% to 18.7B, but remains up 1.6% over the past week. Trading around $100 above the 30D SMA at 9,650 in the upper Bollinger Bands. Targeting 9,700 on the next move up.
$BTC futures volumes fell below 10B (to 8B) overnight with open interest remaining at 3.8B, at its monthly high as set on June 1st. No major liquidations to note.
BTC dominance lost 0.2% (to 64.6%) as a few alts performed stronger than $BTC
- $ETH 2.0 still in the works as it posts its 12th 2.0-related update and test-net on their blog. Volumes were down 27%, but prices have seen an upward trend (+0.5% to 244). Currently experiencing some range bound movements between 242 - 244. $ETHBTC climbing up 3% over the past 3 days to 0.02526
- Out of the hot alts this week, $LINK was the strongest performer in the green while it rejected 5.00 levels after surging +15% over the past couple of days. Currently trading at 4.80
- More DeFi action continues on with COMP token correcting down after seeing massive gains to start the week as it got listed on Coinbase
- Balancer begins to distribute the BAL token, which traded between 7<>22 on its DEX Uniswap on day one
News that caught our eye:
- KPMG releases crypto management suite to assist with complying regulations.
- China’s CBDC announced two days ago that it has completed the backend infrastructure for its digital currency
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
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