OSL Daily Update-May 26, 2021

$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

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