Bitcoin perps most negative since FTX collapse as BTC continues to be withdrawn from exchanges
Over 15k Bitcoin left exchanges yesterday, while perps are the most negative since FTX collapse
James Van Straten 1 min read Insights
Data-led research on the narratives, flows, and on-chain signals moving crypto markets.
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James Van Straten 1 min read Latest insights
Bitcoin
Something banks cannot do: Clear on weekends as BTC transactions hit record numbers
Bitcoin number of transactions in the mempool hits highest for over 3 years.
Bitcoin
Bitcoin long-term holders capitulate at levels seen during FTX collapse
Roughly 10k Bitcoin were sent to exchanges at a loss from long-term holders
Macro
Banks halted on exchanges, Silicon Valley Bank now closed by California regulators
Banks were halted on exchanges due to volatility and double digit decrease in share price, while 2-year treasury yield plunges
Macro
Bitcoin breaks $20k following NFP and unemployment data, as markets favour 25bps instead of 50bps
Unemployment rate goes up to 3.6% as Bitcoin breaks 20k
Macro
Is SVB to big to fail? Will it get rescued? Bill Ackman already calling for bail-outs
If SVB fails, it would be the 2nd largest bank failure in US history and the largest failure since 2008, down a further 24% pre-market
Bitcoin
Bitcoin whales are the first cohort to start accumulating below $20k
Accumulation trend score suggests whales have started to accumulate Bitcoin, first time since November
Bitcoin
Over $320M in liquidations in the past 24 hours, as Bitcoin loses $20k support
Roughly 80% of liquidations were long, while Bitcoin liquidations accounted for $120 million in the past 24 hours
Bitcoin
Bitcoin loses 21k support, as contagion from Silvergate enters banks, financials sector
SVB Financial Group (SIVB) is down 65% and has been halted on the main exchange several times.
Ethereum
Ethereum’s NFT gas usage heads towards a two-year low as inscription demand takes over
NFT gas usage for Ethereum hits 20%, heading in a downwards trend since the start of the year
Bitcoin
Back to back withdrawals from Bitcoin whales, first Bithumb and now Binance
In the past two days, Bitcoin withdrawals have totalled up to $350 million, driven by whales
Bitcoin
Bitcoin memory usage full, number of transactions waiting in the mempool exploding to new highs.
According to Mempool.space, memory usage exceeds 545MB, while purging up to 3.00 sat/vB.
Macro
Signature Bank plummets in share price pre-market, after news of Silvergate halting operations
Signature Bank down over 7% pre-market, while Silvergate Bank is down 44.6%