Good morning,
Welcome to your daily crypto clarity
WHAT YOU NEED TO KNOW
Bitcoin's trend is unequivocally higher, with prices lingering around 50,000.
Last week saw the greatest net aggregate flow across all products, averaging just under half a billion dollars worth of inflows each day.
Microstrategy is up $4B on their Bitcoin bet.
FEATURED CHART
Open interest on Binance, the largest crypto derivatives marketplace, for both Bitcoin and Ethereum hit all time highs denominated in US dollars. As open interest rises, it points to growing attention from market participants in the derivatives market as new positions and contracts are continuously opened. As more positions are being opened, notable rises in open interest tends to proceed elevated volatility.
WHAT TO LOOK OUT FOR
The seasonal trend for equity markets, with which crypto is closely correlated, is entering a tumultuous few weeks.
Nvidia, a key player driving the AI narrative, is reporting earnings on Wednesday.
Increasing open interest on derivative exchanges could point to elevated future volatility.
You’re all caught up.
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