OSL Daily Update – March 19, 2021

$BTC 24 Hour High $60,100
$BTC 24 Hour Low $56,260
$BTC -4.10% since daily open

We start the day with more from Fed Chair, Jerome Powell, whose closing remarks to a payments conference in Switzerland left little to the imagination on the importance of digital assets. Private and public sector involvement to ensure  faster, cheaper, more transparent, and a more inclusive financial system through digitalization is paramount. He added, “The Covid crisis has brought into even sharper focus the need to address the limitations of our current arrangements for cross-border payments.” Touching on the rise of CBDCs he mentioned their need to coexist alongside cash, among many types of money, in a flexible and innovative payment system. 

At the same time $BTC spiked 4.5% during early US trading hours, only to retrace its steps with similar speed, falling 6.38% since the 24 hour high.  

Digital assets market:

  • $BTC  down 2.15% on the day, support/resistance – $57,000/$58,800
  • $BTC liquidations and funding: $431.7M, 0.0115% average
  • $ETH  down 2.21% on the day, support/resistance – $1,750/$1,880
  • $ETH liquidations and funding: $47.13M, 0.030% average

Alts and DeFi watch:

  • DeFi TVL: $44.19B
  • $BAL up 13.7% on the day, making new all time highs, as it  rose to almost $70 amidst crypto majors consolidation/dips.
  • $THETA set a new all time high at $8.75, up more than 7% on the day.
  • $ADA crashed more than 19% after Coinbase Pro enabled $ADA trading for the first time ever

More news that caught our eye:

OSL Trader View is contributed by Santiago Nazaretti and Jose Reyes

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