$BTC 24 Hour High $58,422
$BTC 24 Hour Low $53,720
$BTC +1.45% since daily open
The bulls continue their struggle to hold their ground as morning trading kicks off in Asia. $BTC dropped more than 8% once again, with the slide starting from its small consolidation period after dropping 7% over the weekend. A key level (near $53,200) has provided support, with bears sparing further lows and conserving market structure for the time being. All this, surprisingly accompanied with more positive news for the day.
A few of the bullish news for today:
- The number of addresses holding $BTC hits new all-time high on the weekend and currently, hovers in the high 36 millions
- Powell mentions $BTC is essentially a substitute for gold rather than the dollar
- Thailand Central Bank announced their stablecoin regulation policy
Digital assets market:
- $BTC up 1.45% on the day, support/resistance – $54,100/$56,360
- $BTC liquidations and funding: $763.42M, 0.0110% average
- $ETH up 1.05% on the day, support/resistance – $1,663/$1,745
- $ETH liquidations and funding: $53.89M, -0.001% average
Alts and DeFi watch:
- DeFi TVL: $41.9B
- $TRB broke $60, making it’s second highest high since its peak price of $75 in August 2020.
- $THETA looking to rally again, reaching high $10s, following a quick 10% dip from its recently minted all-time highs
More news that caught our eye:
Did you miss Michael Saylor, Meltem Demirors, Tim McCourt and all the panelists at the inaugural OSL Capital Introduction Conference? Get caught up… watch it here.
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.