Crypto Brief – April 1st 2021
News
Goldman Sachs close to offering investment vehicles for #Bitcoin and other digital assets to clients of its private wealth management unit https://t.co/LzdVnXsOe5
More on @crypto: https://t.co/86bW6YpjTV $BTC pic.twitter.com/phBqhji2Xa
— Bloomberg Crypto (@crypto) April 1, 2021
.@BlockFi cut rates last week and more crypto deposit firms could follow suit, according to @MattBallen4791 of Genesis. @DantesOutlook reports.
https://t.co/OeOroKA8vM— CoinDesk (@CoinDesk) March 31, 2021
.@OpenSea, one of Ethereum's top NFT marketplaces, is adding @Immutable's ZK-rollups in a bid to remove costly gas fees.@sebsinclair1989 reportshttps://t.co/7E8lb1Rw28
— CoinDesk (@CoinDesk) April 1, 2021
BlackRock fund bought bitcoin futures in January, regulatory filings show https://t.co/FjNiqTWtO8
— The Block (@TheBlock__) March 31, 2021
Charts
#Bitcoin Active Supply charts provide insight into the proportion of $BTC supply older than 1yr.
'Peak HODL' is reached where the volume of 1yr+ supply hits a maximum, often near last cycles ATH.
After this, old coins are typically spent in bull markets as HODLers take profits. pic.twitter.com/axHaXXE50E
— glassnode (@glassnode) March 31, 2021
$BTC belief imo pic.twitter.com/9Ij1IEtVMt
— CRYPTO₿IRB (@crypto_birb) March 31, 2021
Everyone talking about how rich $ETH miners are but $BTC miners are selling at 5.5x their cost basis pic.twitter.com/K5enuarzbO
— Mira Christanto (@asiahodl) March 31, 2021
Friendly reminder for Redditers: r/Bitcoin is $BTC while r/btc is $BCH pic.twitter.com/skFwhFM2y0
— Mira Christanto (@asiahodl) March 31, 2021
Analysis
Historically, the BTC/ETH 1m IV spread has proven a reliable indicator of upcoming shifts in market leadership. It has recently dropped to 5%, perhaps indicating a shift back towards bitcoin after several weeks focused on ether. (chart via @skewdotcom)https://t.co/WMac7BSZWJ
— CoinDesk Research (@CoinDeskData) March 31, 2021
According to @KaikoData, BTC-USD vs. BTC-USDT trading volume can be considered an indicator of institutional inflows into crypto. After soaring in Q4, it has trended down in Q1, indicating that institutions are no longer the driver of BTC markets.https://t.co/ZVhfCdPUPI pic.twitter.com/AWE8qwjmxz
— CoinDesk Research (@CoinDeskData) March 31, 2021
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