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Doubling down. According to The Block’s research, there are twice as many crypto venture capital deals with valuations greater than $50 million in the first quarter of 2021 than all of 2020 combined.

The seven deals valued at over $100 million that were sealed in the first three months carry illustrious names in the industry such as BlockFi and NYDIG, which collectively pushed the average deal size from $5.7 million to $12.7 million. …


Tide in, tide out: There couldn’t be a more appropriate description for crypto’s month of March. Whereas dampening sentiment loomed over for three weeks, the crypto complex found its footing and ended the month on a bullish note again. Where do we go from here?

News You Cannot Afford to Miss:

  • Tesla and Paypal offering crypto payment solutions
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  • Word on the street: Sovereign wealth funds buying Bitcoin

Price Action

Market participants went into March with muted expectations, internalizing the overhang of persistent negative price…


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Chart of the Day

What’s mined is mine. Recent consolidation in the BTC market has seen the establishment of solid support above the $57k level, kicking off a new round of rally. The break above a major bearish trend line near $58,650 shows great promise of re-testing the $60k barrier.

On-chain metrics suggest that miners have entered the accumulation phase, which may herald another round of bulls as their position change has historically foreshadowed some of the biggest bull runs in the crypto market

Talk of…


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Chart of the Day

Talk about welcoming an April Bulls’ Day! The month of March saw several record-breaking moments, among which the ETH miner revenue totaling $1.38 billion, up a modest 0.73% against its February record of $1.37 billion.

Ethereum transaction fees, constituting a significant portion of miner revenue in February, have dropped 9.94%. The continued miner profitability can be attributed to the NFT boom and Ether’s relatively stable price performance in March.

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Chart of the Day

What a climb. The active supply chart offers insight into the proportion of Bitcoin supply that is older than one year in each cycle. Peak HODL is defined when the volume of supply older than one year hits a maximum. Looking at past cycles, the peak HODL has been on a constant rise, indicating HODLers’ increased confidence in Bitcoin’s growth potential.

An all-time high is usually achieved shortly after reaching a peak HODL, followed by massive profit-taking and Bitcoin entering a consolidation…


Chart of the Day

What a difference a year makes. In March 2020, the aggregated Bitcoin exchange reserve stood at around 3 million BTC. Today, that number has declined by 700,000 — a manifestation that appears to have resulted from greater adoption and use cases of Bitcoin.

Institutional interest and listed company purchases have absorbed a significant amount of the declining exchange balance. The burgeoning DeFi sector, too, has witnessed a defining trend of staking Bitcoin in DeFi protocols.

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Chart of the Day

Mining their own business. Being on the upside of the supply chain, miners may have far better insights into the market dynamics of the ’21st-century digital gold rush’ than your average HODLers.

Truth is, they ain’t selling either. The ramped-up unloading of selling pressure in January, when the price was between $27k-32k, has waned to practically nothing. Remember miners’ revenue surpassing $1 billion for three months in a row? HODLing apparently worked well for them as cash on their balance sheet kept…


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Chart of the Day

With only a couple of days counting towards the end of March, Bitcoin miners have collectively banked a total revenue of $1.51 billion, marking it one of the highest revenue earned in the mining sector.

With only a couple of days counting towards the end of March, Bitcoin miners have collectively banked a total revenue of $1.51 billion, marking it one of the highest revenue earned in the mining sector. Riding the crypto boom since last December, Bitcoin miners have collected more…


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Chart of the Day

Beware the Bears. The signs of exhaustion we’ve seen recently have temporarily knocked BTC below its 50-day simple moving average (SMA) for the first time since January, which to some might mean a slughorn for incoming bears.

Is this train headed north, or southbound? Pullbacks during a bull cycle are nothing new. If history teaches us anything, Bitcoin has sustained longer and more severe blows as previous price retracement fell below the 21-week SMA before climbing back.

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We bring you Bybit Daily Bits — A tiny step towards trading the world.

Chart of the Day

Max Pain. Nearly $6 billion in Bitcoin options are set to expire this Friday, March 26, 2021. The last bull momentum drove up the price expectation for April, historically a month of high returns, with many investors placing bets on $80k. However, Bitcoin was seen changing hands on Wednesday at around $56k.

The max pain in the options market, a price level that would cost the most number of options to expire worthlessly, currently sits at around $40k. Will the price of Bitcoin gravitate toward $40k…

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