#Bitcoin’s correlation with Chinese equites increases

​​The correlation between #BTC and Chinese equities (CSI 300) has strengthened this year, although it remains relatively low at approximately 20%.

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Of the 2.3 million of #bitcoin on exchanges, the majority resides on #Binance and #Coinbase.

This wouldn’t include bitcoin in investment custody products like #Grayscale and Coinbase Custody, for example.

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Roughly $2.3 billion in #bitcoin #options open interest and $1.3 billion of ether options open interest was due to expire this past Friday across the May 26th monthly contracts.

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BTC rally driven by bullish bets in perpetual futures.

BTC rallied roughly 3% overnight and it looks as if a large portion of that was driven by movements in the perpetual futures market.

Since yesterday, over $250mn worth of new BTC perpetual futures contracts were opened...

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Despite its impressive growth during the '21 bullrun, #Polygon #matic has experienced a decline in transactions. More: https://buff.ly/45DZ4qY

#Bitcoin Tries To Break Major Resistance And Indicators Suggest Other Cryptocurrencies May Follow The Same Pattern.

Read More: https://buff.ly/42ekCaM

From: rubikkav.nft

China (And Japan) has been accelerating the dumping of its US Treasuries📉.

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#Ripple #XRP Network Records High Level Of Address Activity

XRP network recorded its second largest address activity spike of all time in the past two days, according to data from crypto intelligence tracker Santiment. On March 18, XRP saw its highest address activity ever...

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Fear Of #Inflation Increases Demand For #Cryptocurrencies For Investment And Savings

Given the economic uncertainty, stablecoins, such as #USDT and #USDC, are presented as an attractive option for both companies and individuals seeking protection against the effects of inflation and market #volatility.

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Over the last 90-days, Crude Oil (#WTI) declined -4.0%, whilst Gold (#XAU) and Silver (#XAG) have rallied 7.5% and 12.7%, respectively. #Bitcoin however, continues to outperform, remaining 14.5% above the February close.

More: https://buff.ly/3qd3Awt

The #Bitcoin #BTC Volatility Index, which measures the daily fluctuations in Bitcoin’s price, shows that the 30-day volatility in Bitcoin’s price was 1.52%, which is less than half of the yearly averages across Bitcoin’s history, with values usually above 4%.

Read More: https://buff.ly/3oLSgXI

#ProShares’ #Bitcoin Strategy #ETF (#BITO) has risen 47% year-to-date while BTC gained 60% over the same period. The fund's underperformance stems from hidden costs of rolling futures contracts every month as they expire, called the “contango bleed".

#Ethereum-based Products Gain Market Share as #Bitcoin-based Products Decline

The first decline in 2023 for Bitcoin and Ethereum-based product assets under management (AUM) was recorded in May, with respective drops of 10.3% and 4.42%, reducing their totals to $21.7bn and $7.50bn.

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From: rubikkav.nft

#Ethereum Holdings Redistributed From Whales To Retail Traders

During the recent pullback in ETH price, an interesting phenomenon occurred.

While Ethereum supply on exchanges declined by $1.04 billion between May 8 and 31, Ether holdings of large wallet investors dropped.

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#Litecoin had a strong month. Total addresses with a balance has increased more intensely since the end of April and we now observe nearly 8.5 million #LTC addresses with a balance!

While Ethereum supply on exchanges declined by $1.04 billion between May 8 and 31, Ether holdings of large wallet investors dropped.

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The #Bitcoin #BTC Price Continues To Sideline, Reflecting The Lack Of A Driver For Its Rise

According to Markus Thielen, the head of research and strategy at cryptocurrency service provider Matrixport, we can assume that the wave of liquidity from lower #inflation in the United States, which sent BTC and other assets soaring this year, has run its course. deflating.

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💸 #Ethereum's average fees have come back down to earth after its 2023-high $14 per $ETH transaction in early May.

More affordability encourages more utility. Additionally, #crypto's #2 asset is at an #alltimelow 9.9% on exchanges as #selfcustody reigns.

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Monthly #cryptocurrency exchange volumes are on track to hit their lowest monthly level since October 2020, with spot volumes across major trading venues just under $424 billion in May. Read More: https://buff.ly/43sKa5m

The Most Profitable #Cryptocurrencies Among The Top By Market Capitalization Since The Latest Bitcoin Movements

Cryptocurrency market experienced a dull month, with #Bitcoin dropping 7.37% — its worst performance since November 2022 — and #Ether losing 0.22% in May.

Read More: https://buff.ly/3N57sZn

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#Avalanche Hits One Million Monthly Active Users For The First Time

Avalanche, a Layer 1 blockchain network, has crossed 1 million monthly active users for the first time.

The main Avalanche network has also seen growth in adoption recently.

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