BTC liquidity has dropped to 10 month lows as market makers lose access to USD payment rails — link

Binance BTC-USDT liquidity has dropped by nearly 70% since zero-fee trading was phased out — link

U.S. hours have been a major source of bullish pressure since the beginning of the year — link

Buying pressure from Coinbase and Korean Market Investors - update.

"Interestingly, the current buying pressure is decreasing, which may signify a shift in sentiment toward a more balanced market."

ANALYSIS: Data suggests that the selling pressure in the cryptocurrency market is diminishing.

Price correction of Bitcoin based on UTXO

"After Bitcoin reached its highest price since June 2022 and exceeded the $28,000 level, we expect the price range of 29,000-30,000 to form an extreme resistance..."

Analysis of Bitcoin Fees per Transaction and the Impact of Increased Demand for Block Space due to the Banking Crisis

"As more people lose faith in the traditional banking system, they are turning to cryptocurrencies as a means of securing their assets."

Bitcoin has surged amidst the backdrop of bank collapses and fears of contagion. Is bitcoin acting as a safe haven asset or simply reacting to expectations of potentially lower interest rates?

Bitcoin vs. the banking crisis

Shares of BTC long-term and short-term holders

"According to metrics, long-term holders(<6m) have 76.8% of the bitcoins in their pockets. Shares of short-term holders (1D-6m) are 22.12% now."

Ethereum whales turn bullish with Shanghai upgrade less than a month away.

Lightning adoption and activity have been steadily increasing, with aggregate channel capacity hovering around all-time highs currently at 5,480 BTC, or $153m — link

DEX vs CEX volume ratio is at an all time high. Up 25% since the FTX collapse — link

According to a recent survey of crypto holders, Hot wallets are the most popular way for crypto holders to store their funds. 8 out of 10 people use hot wallets — link

ANALYSIS: Total Ethereum supply on exchanges fell to just 10.3% on March 27 as users shifted their ETH to self-custody wallets or staked it. This is the lowest the supply has been since the launch of the cryptocurrency in 2015.

ANALYSIS: March 31 (9:00 AM UTC) - a very large expiration in options on BTC (for $3.8 billion) and ETH (for $3 billion) on the Deribit exchange.

Deribit:
- Zone of main interest in BTC - $24,000 strike (put/call ratio = 0.73)

- Zone of main interest in ETH - $1,600 strike.

Bitcoin: bull runs following prior halving cycles — link

USDT Market Dominance Reaches Highest Level Since June 2021

With BUSD halting the minting of new tokens, and USDC facing uncertainty following the collapse of its partner bank, USDT continues to strengthen its stablecoin dominance. As a result, USDT's market share now stands at 57.5%, its highest share since 20th June 2021.

USDT's market capitalisation also rose 8.06% in March (as of the 20th) to $76.6bn and has increased by $5.76bn since the depeg of USDC on March 10th. This is the highest market cap for the stablecoin since April 2022.

Ethereum Latest Developments

In February, Ethereum experienced limited variation in both open Interest and price, with both staying relatively stable. Ethereum recorded a 1.21% return, while open interest witnessed a minor growth of 4.53% in February.

On the development side, Ethereum made significant progress with the Shapella Upgrade and EIP 4337. The Shapella upgrade was successfully launched on the Sepolia testnet and is expected to launch on Goerli on March 14th.

There is a high probability that Bitcoin will break the supports of $26693.54; $25156.99; $23,978.45; and if there is news that alters market sentiment, it could hit $22,855.48.

Bitcoin hashrate continues to rise, hits an all-time-high.