OSL Daily Update - April 1, 2021
$BTC 24 Hour High $59,800
$BTC 24 Hour Low $56,873
$BTC +2.5% in past 24 hours
We see $BTC forming support above the $58,500 level, after a more than 18% mark up since our local bottom close to $50,000. Resistance found this time around at $60,000 and $62,000.
It seems that $BTC hitting $59,000 has induced some slight FOMO. Even our favorite “Crypto Mom”, and SEC Commissioner, Hester Pierce has joined the recent fray to highlight that the US is long overdue for a Bitcoin ETF approval. She notes the US has set too high a standard for a $BTC ETF. In more news on the institutional adoption front, asset management giant BlackRock, has revealed in their recent SEC filings that they hold a position in Bitcoin futures, 37 contracts from the CME, representing 0.0014% of total assets.
Digital assets market:
- $BTC down 0.62% on the day, support/resistance - $57,500/$60,200
- $BTC liquidations and funding: $549M, 0.09% average
- $ETH down 0.85% on the day, support/resistance - $1,875/$1,947
- $ETH liquidations and funding: $149M, 0.088% average
Alts and DeFi watch:
- DeFi TVL: $43.84B
- Aave will scale its project by building on top of Polygon
- Cardano reaches full decentralization
More news that caught our eye:
- Goldman Sachs looks to offer bitcoin investment vehicles in the second quarter
- Enjin has raised $18.9M for dedicated NFT platform
- UK’s FCA will require all crypto businesses to file a special report, to ease the search for illicit activities
May we wish you all Happy Holidays as we enter the Easter break, with extended holidays in Hong Kong to observe the Ching Ming Festival. We will see you back with all the developments on April 7th. In the meantime, if there’s anything you’d like to see more or less of with the OSL Trader View, please contact us and let us know at [email protected]. We’d love to hear from you.
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.
Please refer to OSL's relevant disclaimers and disclosures associated with this note, including restrictions on redistribution.