Bitcoin starting to be negatively correlated to the S&P 500 after quite some time
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New Capital Continues To Enter While The Fight Between Bears And Bulls Is Disputed Options Contracts Expiration

This time: For the first time since April 2022, money tickets in Bitcoin and Ethereum prevail over the departures; and On February 24, USD 1,900 million in BTC options expire, and the bulls are well positioned to benefit despite the Federal Reserve intention to cool the US economy.

Read The Full Article - Source 📰 - by Rubikkav

Crypto Market Daily Review

The market is down today. Market cap is $1.13T, Bitcoin is trading at $23.9K.

ANALYSIS: #BTC trading volume on spot has increased significantly since the beginning of the year.

NFT weekly trading volume on Ethereum rises to highest level since May

Bitcoin bulls remain in charge even in the face of increasing regulatory FUD

BTC’s correction to $22,750 followed negative remarks from financial regulators, but key Bitcoin price metrics show bulls remain optimistic.

Source - 📰

The metaverse is vast and evolving. Brands like Starbucks and the NBA are testing digital experiences. BlackRock just launched a metaverse exchange-traded fund (ETF). Venture capital firms like Pantera and a16z are still throwing millions of dollars at metaverse startups, funding the industry's growth.

There are 50 assets in CoinDesk Indices’ Metaverse industry group, all with different use cases. Not a bad place to start your digital asset power hour. Cheers.

The open interest for the March 3 options expiry is $710 million, but the actual figure will be lower since bulls became overconfident after Bitcoin traded above $25,000 on Feb. 21.

The 1.12 call-to-put ratio reflects the imbalance between the $400 million call (buy) open interest and the $310 million put (sell) options. However, the expected outcome is likely much lower regarding active open interest.

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#Litecoin was the fourth most used cryptocurrency for online shopping payments in 2022, with 88,295 LTC-related orders, according to research published by crypto payment processor CoinGate on March 1.

Fear&Greed Index on the crypto market is currently at neutral levels.

Wondering how Bitcoin has performed in March historically?

On average, it increased by 10.7%. 

The best performance was in 2013 when it increased by 170%, while the worst was during the 2018 bear market when it crashed by 32.8%.

How do you think this month will turn out?

Ethereum has maintained its dominance with $1.6 billion in NFT trading volume, representing an 83.36% dominance over the entire NFT market. Additionally, Polygon has shown an impressive 147% increase in this month — link

Combined daily transactions on Arbitrum and Optimism have surpassed Ethereum on five of the previous seven days — link

#Bitcoin's early Friday slide triggered liquidations of longs worth over $62 million in futures market, according to Glassnode. Short liquidations worth just over $500,000 were also observed.

A record 67% of Bitcoin's supply hasn't moved in at least a year — link

The biggest worries of the current bear cycle, which began in 2022, have been decade-high inflation. In January, the Consumer Price Index (CPI) came in hotter than expected, with a 0.2% increase versus the previous month.

There are some additional signs that inflation may remain sticky. Inflation in the housing sector, which commands more than 40% of the weightage in the CPI calculation, has shown no sign of a downturn. - link

In February 2023, Bitcoin demonstrated remarkable price stability, surprising many investors and cryptocurrency enthusiasts . Bitcoin's volatility did not exceed 2.6% throughout the month, indicating that the cryptocurrency was trading in a relatively narrow price range . Data from Coinglass shows how bitcoin's volatility index has fluctuated downward since 2013.

This stability is even more remarkable if one considers that in the last 60 days, the bitcoin volatility index was around 2.5%. The leading cryptocurrency had seen a significant rise in price in January, with many investors fearing that market volatility would continue into February. However, bitcoin managed to maintain relative stability throughout the month. - link

The cryptocurrency market will soon experience another decline

"Technical and on-chain analysis of the crypto market indicates the possibility of price reduction."

Looking at Coinbase volumes, altcoins have risen from 26% of volumes post-FTX to 40% of volumes today, largely at the expense of BTC and ETH — link

ANALYSIS: #Binance saw a 45% drop in BUSD's market capitalization due to concerns over its credibility and trustworthiness.

💧Top DeFi decentralized applications by number of daily active users.