OSL Daily Update - January 18, 2021 

$BTC 24 Hour High $36,076
$BTC 24 Hour Low $35,570
$BTC -1.8% 

Good morning to everyone.  It’s an exciting week ahead as President-elect Joe Biden prepares to drop the “elect” tag, in one of the most eagerly anticipated transitions of power, officially ending the Trump era. He has already marked plans for a “10-day blitz” that includes reversing some questionable policies, travel bans, and Covid-19 related mandates. 


Digital assets market:

Digital asset market cap returned above one trillion again as $BTC finds its footing at 35,000 after dropping from its 40K highs set last week. Momentum seems to target 36,000 with 700 daily traded range as volatility remains present. 

  • $BTC remains up 25% in 2021, with daily physical traded volumes at 51B over the past 24h with 434M contracts liquidated over the past 24h. 
  • $BTC dominance dropping to 65% with alts seeing more action over the past couple of weeks, down from highs of 70% when $BTC broke through multiple levels of ATH’s in late December.
  • $ETH also finds itself range-bound trading between 1160 and 1250 levels over the past few days with resistance at 1280. 2021 YTD up 66% and trading at overbought levels currently.

 

Alts and DeFi watch:

  • DeFi sector recovering from last weeks correction to once again challenge new ATH’s after slumping back from 20B levels last week
  • $DOT up 118% over the past two days from 8.2 levels to 18
  • $AVAX up for sixth consecutive day, gaining 103% from 6.5 to 13.2 in this timeframe
  • $AAVE +64% over the past week with 6 days on consecutive strong days to 187 levels, reached ATH at 200 before correcting
  • $SNX is seeing increased daily volatility, with traded range around 2.5 over the past few days, but resulting in limited price action over the past week compared to other alts as it trades currently at $15.

 

News that caught our eye:

 

OSL Trader View and Weekend Digest are contributed by Stefan Chu 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: