Crypto Brief – March 5th 2021
News
Bangkok residents can now use their #Bitcoin to go to the movies as Thailand’s largest movie theater chain rolls out a crypto payment pilot. https://t.co/EnDxgfJHRo
— Cointelegraph (@Cointelegraph) March 5, 2021
Goldman Sachs crypto survey shows 22% of respondents expect $100,000 bitcoin https://t.co/cdDeGCDsJB
— The Block (@TheBlock__) March 5, 2021
Bitcoin rebounds from lows and MicroStrategy buys more coins https://t.co/BS9JqBornh
— Bloomberg Crypto (@crypto) March 5, 2021
Charts
60-Day SOPR (entity-adjusted) reset without falling below one.
This indicates a high HODLing conviction from new investors, as coins that were bought in 2021 did not move at a loss during this last dip.#Bitcoin pic.twitter.com/lvMctNDEmd
— glassnode (@glassnode) March 5, 2021
To get a feel for one of the differences between institutional investment in BTC and ETH, take a look at the relative average trade sizes of each on Coinbase (see more differences in our latest report):https://t.co/NDzKjSPVfl pic.twitter.com/9zEb4MT14S
— CoinDesk Research (@CoinDeskData) March 5, 2021
$GBTC is trading at a -11.92% discount – record low. #Bitcoin
Chart: https://t.co/tdq2AXRlwO pic.twitter.com/ZbIOP18Yll
— glassnode (@glassnode) March 5, 2021
Analysis
The declining correlation between BTC and ETH reinforces the case for crypto asset diversification in investment portfolios, as do the divergent development paths and use cases for the two assets.https://t.co/LToS3DCOwC pic.twitter.com/agxnx4VHdA
— CoinDesk Research (@CoinDeskData) March 4, 2021
A trillion-dollar bitcoin collateral market?
Our estimates show the huge potential for bitcoin as collateral, even if it just captures a few percentages of the existing market.
Read more in our new report: https://t.co/hdHWA3iMxQ
Powered by @Bitstamp pic.twitter.com/tnf5OTa8OA
— Arcane Research (@ArcaneResearch) March 5, 2021
The latest monthly report from @KaikoData shows that, while institutional traders prefer @coinbase, @binance leads in terms of spreads and slippage.https://t.co/O83OTXXtPS pic.twitter.com/zixb7Uv6OP
— CoinDesk Research (@CoinDeskData) March 5, 2021
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