OSL Daily Update - May 4, 2021 

$BTC 24 Hour High $58,979
$BTC 24 Hour Low $54,731
$BTC -4.28% in past 24 hours 

$ETH took the spotlight today, as it blasted through the psychological resistance level of $3,000. It wasn’t without some bumps though. Following a more than 17% markup and hitting a peak (and new ATH) at $3,457, Ether took a swift 6.76% dive during the first hour of the trading day, just before Americas’ closing. It is now consolidating around the $3,240 level and seemingly causing a bit of angst with market participants, usually after these swift downward moves during mark ups, we tend to see another attempt to go  lower - although it was short lived and with a quick recovery.  

In the meantime, $BTC rose 4.3% before fully reversing, dropping more than 7% over the course of the night and into the day - a rather unfavorable day of volatility for Bitcoin. Funding rates for Bitcoin are currently neutral (0.01%) with a couple of exchanges showing negative rates. $ETH rates on the other hand are all negative but seem rather tame for the size of the markup we experienced.  As for liquidations, $BTC saw $436M in the previous 24 hours and $ETH saw a whopping $530M in liquidations during this move seeking all-time high and its subsequent dip afterwards. 


Digital assets market:

  • $BTC down 2.57% on the day, support/resistance - $54,700/$57,100
  • $BTC liquidations and funding: $436M, 0.004% average
  • $ETH is down 6.44% on the day, support/resistance - $3,070/$3,455
  • $ETH liquidations and funding: $530M, 0.043% average

 
Alts and DeFi watch:

  • DeFi TVL: $68.58 billion
  • $DOGE sets new all-time high at 45 cents
  • $BAND down 10% since daily open
  • Altcoin market cap loses almost $63 billion on open

 
More news that caught our eye:

  

OSL Trader View is contributed by Santiago Nazaretti and Jose Reyes

 


 

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