$BTC 24 Hour High $39,966
$BTC 24 Hour Low $36,481
$BTC +0.43% past 24 hours
After coming off from its daily peak yesterday (~8.7% slide), $BTC has recovered most of that drop as Asia kicks off its Wednesday trading. It has bounced nicely off the $36,500 level and looks to be challenging $40,000. Meanwhile, $ETH has already returned to yesterday’s high, completely erasing the earlier 13.7% decline.
The derivatives markets are showing more normalized funding rates, with the exception of BitMEX on $ETH, offering an almost maxed out rate of 0.3532%, favoring shorts.
As we hit the midpoint in the week, price consolidation right at resistance after a big rebound potentially points to further volatility – let’s see what today’s got in store for the market.
Digital assets market:
- $BTC is up 1.10% on the day, support/resistance – $37,000/42,000
- $BTC liquidations and funding: $136M, 0.009% average
- $ETH is up 2.09% on the day, support/resistance – $2,500/$2,990
- $ETH liquidations and funding: $152M, 0.004% average
Alts and DeFi watch:
- DeFi TVL: $60.91 billion
- Total stablecoin supply reaches $100 billion
- Grayscale $ETHE rises towards a premium, 11%
- Mark Cuban backs Polygon ($MATIC)
More news that caught our eye:
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.