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

Institutionals of CME are slowly closing their longs

Probably, a local correction is expected in the next week.

#WhaleMap has raised an alarm in response to a colossal #Bitcoin transaction valued at $5 billion executed at the present levels. Although there is no certainty whether these funds have been transferred by some exchange, similar past occurrences have resulted in market. - link

The #bitcoin #btcusd #btc #btcusdt price closed March registering a monthly increase of 22.96%. This occurs after it had a rise of 0.03% in February and 39.63% in January, according to data from the explorer. - link

Grayscale's #Bitcoin Trust #GBTC continued to be the dominant trust product in terms of assets under management (AUM), with a significant market share of 71.8% across all trust products. The product recorded an increase of 16.1% to $17.5 billion AUM in March. - link

Following a surge in price, the leading surpassed other leading coins, recording a staggering 20.9% return and marking its highest market dominance for the year.

#BTC's market capitalisation also broke the $500bn milestone, reaching a figure not seen since June 2022. - link

Monthly Parameters Confirm Bullish Trend For Bitcoin

Currently, Bitcoin closed negotiations and the price it being supported by the monthly EMA21 at exactly $27754.86 and for the next few months it will seek resistance at $33233.55; $35,999.99; and we could have a small correction between $41999.25 and $45999.41.

Read This Technical Analysis And Earn Free Cryptocurrencies - by Rubikkav

Crypto Market Daily Review

The market is down. Market cap is $1.19T, Bitcoin is trading at $27.6K.

Bitcoin was best performer in Q1 📷

#Bitcoin finished the first quarter of 2023 with gains of 71.77% — making it the best-performing asset class by some distance. The tech-heavy Nasdaq delivered more tepid growth of 20.5%, while the S&P 500 edged up 7% - link

Amount of open #BTC #bitcoin #btcusd contracts fell by 20% to 211k BTC, driven by OKX and Bybit which registered the steepest drop of 54% and 35%, respectively. It is notable that BTC open interest on Binance remained relatively flat. - link

The recent rally toward the 2021-22 cycle baseline (~$30k) has created a similar investor behavior pattern to 2019, returning a trend score above 0.75 for the past two weeks. #btc #btcusd #bitcoin #btcusdt - link

#Polygon(#Matic) - Increase Velocity and Transaction Volume

"#Bitcoin made a new low in November after reaching $18,600 in June 2022, but Polygon did not even go near the low ($0.34)."- link