OSL Daily Update - March 29, 2021 

$BTC 24 Hour High $56,640
$BTC 24 Hour Low $54,700
$BTC -2.38% in past 24 hours

This weekend was not short on Bitcoin intrigue with a number of opinions catching print. Firstly, Ark Invest’s Cathie Wood stated her positive opinion on $BTC.  The CEO said that the combination of limited supply and ever-rising demand will propel Bitcoin immensely, that the market cap is still too small in comparison to what it’ll be in the future, and that it’s part of a new asset class. Another head turner, if not spinner, was from Norwegian billionaire, Oystein Stray, who made us all a bit dizzy. Ten days after bashing the cryptocurrency, calling for a ban given its impact to the environment and how the current payment systems are sufficient, Stray proceeded to invest in Norway’s largest cryptocurrency exchange, MiraiEx, and announced his investment in $BTC. There’s been lots of 180 degree spins by notable investors and Wall Street bosses, but this may have been the fastest public change of opinion in cryptocurrency history.

Let’s deep dive into price action for this weekend: $BTC rose more than 12% since almost tapping the $50,000 level before the weekend started. It currently sits 10% above its local bottom, around the $55,400 level. $BTC has been consolidating for the past day around the $56,500 resistance area with no clear direction in sight yet. 

Digital assets market:

  • $BTC down 0.77% on the day, support/resistance - $54,000/$56,500
  • $BTC liquidations and funding: $203.77M, 0.013% average
  • $ETH down 0.41% on the day, support/resistance - $1,636/$1,740
  • $ETH liquidations and funding: $37.82M, 0.034% average

Alts and DeFi watch:

  • DeFi TVL: $40.43B
  • Matcha, a Decentralized Exchanged (DEX) aggregator powered by $ZRX, has surpassed $5 billion in volume since inception 
  • $STORJ crashes more than 30% from it’s local $4 peak made a day ago

More news that caught our eye:


OSL Trader View is contributed by Santiago Nazaretti and Jose Reyes



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.