Upcoming US CPI Casts Shadow Over Weak Overall Markets

$BTC 24 Hour High $19,525.00 / Low $18,950.01 | $BTC -2.3 Past 24 hours; -2.9% Past 7 days

7 days, making it a deflationary currency after the merge. Bitcoin’s mining difficulty reached another new all time high. Binance says they’re still committed to invest $500m for Elon Musk’s acquisition of Twitter. 

Macro, Equities & Commodities 

US markets closed lower for the 4th consecutive session overnight. The US CPI number is releasing Thursday morning, which will be the major indicator how the Fed will pace the rate hikes for the rest of the year. Bank of England doubles its temporary QE bond purchases to £10 billion per day. 

Digital Assets Market

  • Total crypto market capitalization stands at $957 Billion, -2.8% from yesterday
  • $BTC is -2.24% at time of writing; 24H liquidations and funding rates: 28.27M, +0.01290%
  • $ETH is-3.86% at time of writing; 24H liquidations and funding rates:44.02M, -0.00109%
  • Stablecoins market dominance: USDT 46.00%; USDC 30.91%; BUSD 14.54%; DAI 4.22%

Alts and DeFi watch

  • DeFi TVL: $54.18B (-1.38% over last 24 hours) 
  • $SOL -5.0% in the last 24 hours, -4.2% in the past week
  • $SHIB -8.6% in the last 24 hours, -9.3% in the past week
  • $ADA -7.1% in the last 24 hours, -7.8% in the past week
  • $ENJ -6.1% in the last 24 hours, -5.4% in the past week

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OSL Trader View is contributed by Hans-Stefan von Haenisch, Ethan Fu, Tiffany Wee, Melvin Gallu, Keith Hwam & Kevin Lee.

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