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.

#Bitcoin suffered a sharp #pullback on Wednesday — sliding from $30,000 to $29,100 in a little under 30 minutes.

The sudden sell-off liquidated long positions — affecting traders who were anticipating further price increases. - read the complete information.

Global #ETH €Etherum futures open interest, excluding CME, has increased by almost 22% to $6.62 billion, Coinglass data show. Open interest in Deribit-listed ETH futures has jumped 30% to $750 million, reaching the highest since the May 2021 record high of $778.6 million. - source.

2023 Q1 Overall #Crypto #Market Overview #bitcoin #btc

Market rallied strongly in 2023 Q1, gaining close to 50% despite a mid March dip, with overall spot trading volume also increasing by 30%. - Source.

In Q1'23, The #Graph saw a 41% QoQ increase in USD revenue from query fees. - source.

#Binance has activated the #ETH 2.0 stacking withdrawal feature.

The exchange is the 4th largest in terms of #Ethereum stacking among companies. - source.

#Solana #solusd #solusdt is facing resistance at the 50-day EMA at $25.40 and 2022 breakout levels around $29.76. The Moving Average Convergence Divergence (MACD) indicator, a momentum indicator, shows a divergence between the price rally and the MACD indicator, hinting at a possible reversal. The support level lies at $20.

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#Bitcoin #btc #btcusd #btcusdt long positions across derivatives exchanges saw the largest liquidations so far this year. About $253 million in longs were liquidated, according to data from The Block. Most of the volume was on Binance and OKX, which saw $95.4 million and $85.2 million in liquidations, respectively. - source.