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.

Ethereum and BNB Chain have two of the largest user bases in crypto, with BNB seeing its user onboard rate increase as ETHs fell. ETH's stunted growth can be attributed to the rise of Arbitrum and Optimism, both seeing industry-leading user growth and retention rates — link

Ethereum's supply has decreased by more than 70,000 ETH since The Merge — link

The banking crisis pushed more than $286 billion into money market funds in two weeks.

Goldman Sachs money funds have received USD 52 billion, representing a growth of 13%, while JPMorgan funds received almost USD 46 billion and Fidelity registered inflows of almost USD 37 billion, notes the FT.

During a seven-day period ending March 22, the money market fund's total assets increased by $117.42 billion to $5.13 trillion, according to a report by the Investment Company Institute.

The #Bitcoin #btc $btc #btcusd Relative Strength Index is above 50 for the first time in a year, signifying the beginning of a new 📈 bullish trend 🙌 - link

Cryptos Gained in Q1 Despite Weakened Asset Class Perceptions

It’s been an eventful start to 2023, with what feels like a full year of news crammed into just three months. Year-to-date cryptocurrency returns, similarly, have been much bigger than is typical for a single quarter:

Layer 1s

Bitcoin: 71%
Ether: 51%
Avalanche: 58%
Cardano: 57%
Solana: 112%
Algorand: 34%

Bitcoin price aims at $30,000 even as SEC charges cause crypto exchange Beaxy to cease operations.

ANALYSIS: CryptoQuant disclosed that a breach of 1.5 in BTC's MVRV Ratio would indicate a bullish drive, as it has been a reliable market trend indicator.

Binance Bitcoin trading volume hits lowest level in 8 months following termination of zero-fee trading.

Tomorrow is quarterly settlement day and quarterly contracts are currently trading very actively, with short-term implied volatility continuing to rise, up almost 10% in one day for the monthly term. Block trades accounted for more than half of the total volume, dominated by option buying and bull spreads.