Over the past week, #CME institutionals have added more long contracts, increasing them by 14%. Exactly as in this report, after which #Bitcoin grew from 27k to 30k. - link

#Bitcoin dominance experienced a pullback to 47.48%, after hitting a peak above 49% recently. This is another factor that drives the alt season narrative. A decline in Bitcoin dominance is typically followed by capital rotation to altcoins and results in an #altseason - link

Tether Market Cap Breaks Records After Regaining 65% Dominance Of Stablecoins

On April 17, the circulating market valuation of the US dollar-pegged stablecoin hit nearly $81 billion, just 1.5% below its all-time high of $82.29 billion a year ago. It has grown 20% so far this year and is on the verge of hitting new all-time highs.

Read the complete article and earn crypto for free - by rubikkav

Despite the varying levels of adoption and regulation, the overall trend towards adoption of #crypto assets globally has been positive. The growth rate of global retail cryptoasset adoption has averaged ~87% p.a. and these are just ID-verified users - link

Centralised Derivatives Volumes Reach $2.7tn in March

Derivative markets accounted for an all-time high of 72.7% of total centralised market volumes, trading $2.77tn in March - highlighting the prominence of speculation within the digital asset markets.

Decentralised derivatives exchanges have also seen an uptick in trading activity in recent months, trading $68.7bn in March, with dYdX accounting for 62.6% of the market share. - source.

#Bitcoin #btc Market Cycle Analysis & Halving Influence

To better understand Bitcoin's current performance, it is helpful to examine its behavior in previous market cycles.

In the previous two cycles, the accumulation period from the market bottom after the breakout to the halving date spanned at least 500 days.

This would mean, if we were to assume that the market bottom for this cycle was in November last year (when Bitcoin hit a yearly low of $15,760), that we are only 129 days into the current cycle as of March 30th. - Source.

From a sentiment perspective, the potential for #Bitcoin's price to rise is greater as increasing short positions are being liquidated. - link

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#Bitcoin price registered a 50% increase in value over the duration of a month from mid-March to mid-April. This resulted in the social volume toward BTC rising by 81% in the last 30 days, month on month. - link

On April 9th, the 7-day moving average of spot volumes for #BTC and #ETH reached their narrowest gap since July 4th, 2022, at only $2.1 billion. - link

#ETH spot prices dropped by nearly 18% post-Merge while they are up 11% since Shapella, despite fears of mass selling. - Source.

Call volumes rose to a yearly high of $700mn in the days following the #Shapella upgrade, outpacing puts (bearish bets) by a large margin. #ETH open interest for perpetual futures markets hit a multi-year high of over $6bn and funding rates have remained positive. - Source.

While part of the increase in open interest was driven by rising #ETH prices, the amount of open contracts in native units also jumped double-digits, up more than 20% last week, despite remaining below its levels from early March. - Source.

#Bitcoin Dominance & Market Capitalisation On the Rise

In the early stages of previous market rallies, Bitcoin has typically led
Bitcoin's market dominance has started to increase, rising to 45.2%, its highest level since April 2021.

This is a substantial increase from ~36% market dominance, which it maintained during the collapse of FTX when its price dipped to a yearly low of $15,760. - Source.

#BTC's correlation with #ETH, calculated using a 30-day rolling window, has dropped to its lowest level since January, following BTC's double digit March rally. 👉🏻 read more - source.

#Bitcoin's correlation with U.S. equities diverges.

The gap between #BTC's correlation with the tech-heavy #Nasdaq 100 and the broader S&P500 is the widest since May 2021. - read more - source.

#BTC and #ETH looking bullish? 📈 #bitcoin #ethereum

The future's looking bright for the two biggest #cryptocurrencies, if analysts are to be believed.

K33 Research's Vetle Lunde believes Bitcoin could rally to $45,000 next month as a painful bear market ends. Read more - source.

CPI came in under expectations, with a MoM change of 0.1% (Exp. 0.2%), and Core CPI came inline with expectations at 0.4%.

This caused BTC to rally 2% in the minutes following the announcement, which has since retraced. The market is still pricing in a 65% of a 25bp hike at the May 3 FOMC, but we will see how job numbers change this expectation. - source.

Data Reveals #Bitcoin Exiting Bear Market as Transactions Pending Decrease

A new report from Glassnode suggests that Bitcoin has built a strong footing below the $30,000 level.

Network congestion persists since February. However, the decrease occurred in a period of 72 hours and in the last days.

Read the complete article here and earn crypto for free - source.

#Bitcoin Funding Rate has turned negative on this dump. - Source.