Daily Market Update - May 5, 2020


$BTC 24 Hour High $8,956.91 $BTC 24 Hour Low $8,645.02 $BTC 0.25% Digital assets market:

  • $BTC traded volumes went back down to slightly above average levels around 82K 

  • $BTC range bound between 8,660-8,920 over the past 24 hours as the bulls take the foot off the pedal as we reach t-minus 7 days before halvening. 

  • Overall market cap dropped from 249B to 244B with increased profit taking. $BTC dominance at 65.8% with ~17B daily volume traded aggregated across top exchanges.

  • $BTC Futures volumes increased by ~40% compared to the month of April, 

  • $BTC funding at long paying shorts with swaps trading at a slight 2-3 premium. 2B open interest across top four exchanges and bull-bear ratio at 71/29.

Alt markets: Alts continue to trail the market as $BTC dominance remains at 65.8%. Top performers: $XTZ +2.6% @ 2.8 $XLM +3% @ 0.074 $LINK +3% @ 3.79 Traditional markets: After markets dropped for two consecutive sessions to start May, last night the markets started off sluggish before rebounding.  Markets finished marginally above the day’s open prices amidst escalating US and China tensions.  

  • June crude oil contracts finally trending upward, (+6% to 21.62) 

  • VIX decreased slightly after two sessions pushed it to 40 levels, currently down to 36.

  • DOW +0.11% @ 23,749

  • S&P +0.42% @ 2,842

  • NASDAQ +1.33% @ 8,834



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