The global crypto market cap is $2.69tn, a 1.80% increase over the last day. The total crypto market 24h volume is down 25% to $117.92bn. Bitcoin is up 1.30% (1d) and currently trades around $82,500. Ether is down 0.20% (1d) and trades around $1,900.
On Mar 11, US BTC spot ETFs recorded $371m in net outflows while ETH ETFs recorded $21.6m in net outflows.
Crypto liquidations came in at $395.04m in the past 24 hours, with 60% of them short positions. Bitcoin short positions made up 37% ($145.28m) of all liquidated positions.
The US JOLTS report yesterday revealed that new job openings in January reached 7.74 million, surpassing the expected 7.63 million. Today's US CPI February reading is now in focus.
Japan’s twenty-year government bond yield has increased to its highest level since 2008, suggesting increased investor caution and potential risk aversion.
Binance's 28th proof of reserves revealed an increase in user assets: BTC up 2.02%, ETH up 0.59%, and USDT up 7.45% since February.
According to blockchain investigator ZachXBT, a 283m XRP ($150 million) theft targeting Ripple co-founder Chris Larsen was the result of storing private keys in LastPass (password manager which was hacked in 2022), which was revealed in a forfeiture complaint filed by US law enforcement on March 6. Up to this point Chris Larsen had not publicly disclosed the cause of the theft.
Santiment Insights reports that between Feb 20 and Mar 8, 22,702 BTC moved to exchanges, indicating selling pressure, while whales resumed accumulation on March 3. However, Bitcoin continued to decline and altcoins suffered steeper losses. Retail sentiment, which could serve as a contrarian indicator for Bitcoin’s next move, has also shifted since the beginning of March. Mentions of lower BTC price predictions ($50k-$69k) have increased, signaling growing bearish sentiment among retail traders. Santiment Insights reports that historically, markets tend to move against retail expectations, meaning heightened pessimism often coincides with buying opportunities for larger investors. Conversely, excessively bullish price predictions ($100k-$119k) typically indicate overconfidence, which has previously preceded market tops.
The total value of assets in decentralized protocols is currently $87.47bn, down to levels of Nov 5, 2024 when US president Trump won the elections. Since the peak of $136bn reached on Dec 17, the TVL dropped by 35% or $48.5 bn.
