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.

ETH/BTC 30-day correlation rises back to >90%

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#Bitcoin #btcusd #btcusdt $btc Funding rate continues to climb higher whilst the long/short ratio remains flat.

With price declining and funding positive, short perps are potentially profitable and being paid by longs to keep their positions open. - link

ANALYSIS: Data from The Block indicates that the monthly options volume for ETH has reached its highest level since May, ahead of Ethereum's scheduled Shapella update on April 12.

ANALYSIS: USDC outflow continues - stablecoin market cap has fallen by $10 billion in the last 2 weeks.

Bitcoin correlation with SP500 is coming back to normal historic levels — link

Bitcoin and Ether options client interest and trading activity continue to accelerate as Q1 wraps up, with both contracts reaching record open interest of 15,089 contracts on March 27 — link

A small number of bears may be a harbinger of short-term downside risks

"When the number of bears (supply in a loss) decreases about bulls (supply in a profit) in the local trading cycle, this can create ground for downside risks."
― Link

A correction on $BTC is likely

Massive bearish divergence on the indicator.

Like in February, I think we can dip into the green cloud.

Through to March 26, a downtrend followed. But as we entered this week, futures traders began piling in to lift XRP PFOI much higher – peaking at $610 million on Wednesday.

Over 1.1M $ ETH has been earned by Ethereum 2.0 validators — link

ANALYSIS: On-chain analyst Charles Edwards believes that the Bitcoin indicator "Bitcoin yardstick" is showing a familiar pattern to 2019 lows, indicating that Bitcoin is undervalued.

March’s total #Bitcoin mining revenue of $734 million also outpaced February’s $627 million, January’s $601 million, and December’s $477 million. Out of the 4,498 blocks, the largest mining pool by network hashrate, Foundry USA, discovered 1,468 blocks or 9,175 new bitcoins.

Foundry’s percentage of the hashrate in March was around 32.64%, and at press time, the pool has 105 EH/s of hashpower. Antpool found 910 blocks in March, which produced 5,687.50 BTC. - link

#Binance trading volume is disproportionately skewed towards U.S. trading hours (orange) and is in fact quite similar to Coinbase, a U.S.-based exchange. #BNB $bnb #bnbusd #bnbusdt - link

In Q1 2023 total of $373 million of funds lost due to hacks and exploits, a significant decrease of 92.60% compared to the previous quarter’s total of $5 billion. - link

ANALYSIS: According to Delphi Digital, #Ethereum validators earned $2.007 billion by staking 1.1 million #ETH since January 2021, as more validators joined. - link

ANALYSIS: Over 991k #Bitcoin #btc #btcusd #btcusdt addresses hold more than 1 BTC, as per on-chain data. The number has been increasing steadily and rose rapidly after the collapse of FTX in November. - link