Daily Market Update - April 6, 2020

$BTC 24 Hour High $6,883 $BTC 24 Hour Low $6,715 $BTC -1%

It was a calm weekend as digital asset markets took a break from the volatility during the week. $BTC was range bound between 6,700-6,850, with $BTC halvening in approximately 37 days. We’ll be monitoring the VIX this week (decreased to 46 following peaks of 84) to see how the market will react this week with health officials warning the next two weeks will be deadly for the US. 

Alt-coin stats to start the week:

Exchange tokens seeing best results over all mid-large cap coins from the past week:

  • $BNB +18.8%; currently trading at 13.77, next target 14.32 from March 20th; 

  • $HT +19.4%; currently trading at 3.72, it will need to rally further support to climb back up to 4.00 levels - where it dropped off from during the last major sell off in March; and

  • $LTC (+8%) saw the least amount of the gains compared to the rest of top 10 coins, trading at 40.6.  Aiming to break 43 on the next move, currently trading on a very slow and steady climb up from March 13th’s sell off. 

Desk noticed $USDT limited arb opportunities from last week led to decreased payment provider flows to 50-60% of normal capacity. Seeing more sell-flow for $BTC, with less activity on the major alts.

News that caught our eye:

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