OSL Daily Update – March 22, 2021

$BTC 24 Hour High $58,500
$BTC 24 Hour Low $55,543
$BTC -0.90% since daily open

For a weekend full of positive news and announcements for $BTC and other cryptos, weekend price action didn’t seem to align with it much at all, with $BTC falling more than 7% during the two day stretch from just shy of $60K to mid $55Ks. 

Some of the positive events that took place over the weekend: 

  • Anthony Scaramucci’s Skybridge capital revealed their interest in releasing a $BTC ETF, when they applied for it with the SEC
  • “The Mooch” also suggested Elon Musk likely owns $5B worth of $BTC between Tesla, SpaceX, and his personal holdings. 
  • Deutsche Bank raised a positive comment on $BTC, calling it “too important to ignore” in their latest “Future of Payments” research report. As of now, this week is shaping up for a nice wave of positive media coverage for $BTC. 

Digital assets market:

  • $BTC down 0.90% on the day, support/resistance – $55,700/$58,100
  • $BTC liquidations and funding: $635.4M, 0.0260% average
  • $ETH down 0.80% on the day, support/resistance – $1,755/$1,865
  • $ETH liquidations and funding: $58.98M, 0.0120% average

Alts and DeFi watch:

  • DeFi TVL: $43.41B
  • $ETH supply on exchanges hit a 28-month low, indicating rising accumulation of the asset.
  • $LINK supply on exchanges dropped to only 14.6% of its total supply also indicating considerable accumulation of the asset.

More news that caught our eye:

OSL Trader View is contributed by Santiago Nazaretti and Jose Reyes

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