OSL Daily Update-June 17, 2021

$BTC 24 Hour High $40,583
$BTC 24 Hour Low $38,137
$BTC -3.6% past 24 hours; +3% past 7 days 

$BTC saw some peculiar price action intra-day, during a 15 minute window, price action was both rapid and constant up and down. Some call it a shakeout, as it definitely teased further movements, which never came to fruition. Floor consolidation, cited yesterday, did not hold as $BTC slid ~6% over the course of the day, however it seemed to mark a bottom as today’s trading commenced in Asia.   Currently $BTC is nestled in the $38Ks.

Key policy developments continued in Central America, with Panama planning to follow El Salvador’s lead by proposing a bill to make crypto legal tender to be tabled in coming weeks. Congressman Gabriel Silva mentioned that if Panama really wants to become a tech hub, they should support cryptocurrencies. Lets see what Congressman Silva can come up with in such a short amount of time.

Digital assets market:

  • Total crypto market capitalization stands at $1.65T, 4.1% decrease from yesterday
  • $BTC is up +0.89% at time of writing, support/resistance – $33,324/$40,448
  • $BTC liquidations and funding: $221.5M, -0.0146%% average
  • $ETH is up +1.70% at time of writing, support/resistance – $2,252/$2,893
  • $ETH liquidations and funding: $100.85M, -0.0119%% average

Alts and DeFi watch:

  • DeFi TVL: $59.95 billion
  • BitDAO launches after $230M raise 
  • $KNC rises more than 18% since its daily low today
  • $ATOM immediately up 6% in the first few minutes of the trading day
  • $XRP holding support, possible mark up underway

More news that caught our eye:

OSL Trader View is contributed by Emilia Lee, Ethan Fu and Jose Reyes

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