Crypto Coinfessions ✖️

Open interest for the March 17 options expiry is $1.2 billion, but the actual figure will be lower because bears have concentrated their bets on Bitcoin trading below $23,500. The difference in open interest between the $590 million call (buy) options and the $640 million put (sell) options is reflected in the 0.93 call-to-put ratio. The expected outcome, however, is likely to be much lower, as bears were caught off guard when Bitcoin’s price surged above $23,000 on March 13.

Bitcoin exchange inflow hit a three-month high, indicating a rise of BTC reserves on cryptocurrency exchange platforms. Typically, a spike in BTC reserves is considered indicative of rising selling pressure on the asset.

Bitcoin hash rate continues to rise, but DeFi is under threat: Report.

Survey by #Ripple and Faster Payments Council shows global merchants may adopt crypto payments in the future, potentially transforming cross-border settlements.

Bitcoin's market dominance has reached a 9-month high of 45.5%, per TradingView data. It last hit over 45% on June 25, 2022.

BTC correlation with European stocks reaches its lowest point in over 2 years and BTC/Nasdaq correlation reaches its second lowest point in over a year, it appears that crypto is starting to diverge from traditional stocks.

👀 Derivatives effect on BTC "Regarding last move; that rise based on derivative exchanges effect substantially".

Bitcoin options market still afraid of USDC volatility.

The number of transactions in the Bitcoin mempool has surpassed three-year highs — link

Bitcoin rises amid bankruptcy of U.S. Banks 🔥 "The price of Bitcoin has risen more than 20% amid the crisis in the US banking system, where 3 banks have been closed by the US government and declared bankruptcy."

💧 Current state of the market in our weekly overview.

ANALYSIS: Bitcoin options trading on Deribit surged following US bank failures, with a $2.4 billion trading volume in the past 24 hours - the highest since May 17, 2021, as per the data monitored by Amberdata.

ANALYSIS: The Ethereum network is experiencing an increase in deflation, as evidenced by the record high value observed within six months of The Merge. The supply of ETH has decreased by approximately 63,000 ETH.

Gas Usage on Ethereum for NFTs and Defi head to 2-year lows — link

STUDY: 🇺🇸 US ranks first in global Bitcoin interest, followed by 🇸🇻 El Salvador where it's a legal tender, and 🇻🇳 Vietnam ranks third with the highest Bitcoin interest in Asia - per cryptobettingOrg.

ANALYSIS: EUROC volumes suggest that US dollar traders are seeking to invest in the European stablecoin since Coinbase's listing at the end of February.

Binance to convert the remaining of the 1 billion industry recovery funds from BUSD to Bitcoin, Ether and BNB — link 💣

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