Crypto Daily Report – June 4

Jun 4, 2021
Most Important Daily
Data and News for Digital Assets

Crypto Daily Report

The Most Important Daily
Data for Digital Assets

Daily Analysis from FSInsightJun 4, 2021
  • Crypto markets were once again shaken by a mysterious late-night tweet in which Elon Musk implied a breakup between Tesla and bitcoin. Bitcoin dipped from $39,200 Thursday evening to $36,200 at the time of writing, leaving the cryptocurrency at approximately the same price it was last Friday.
  • Anchorage Digital, a digital asset bank, is developing new borrowing and lending tools in partnership with BankProv, a nearly 200-year-old bank. Institutional clients will now be able to custody ETH with Anchorage and use it as collateral for loans.
  • Google surprised many by lifting its 3-year ban on crypto exchanges and wallets from using its ad services. To advertise on Google, an exchange or wallet must be registered with “FinCEN as a Money Services Business and with at least one state as a money transmitter” or “a federal or state-chartered bank entity."
Daily Important MetricsJun 4, 2021

Crypto Size  Bearish Signal

Bullish signal is tied to the crypto market growing

Market Cap $1.6T $-136.1B (-7.79%)

BTC Dominance   41.87% (+0.65%)

Stable Coins   Bullish Signal

Increase in circulating stablecoins is a Bullish signal

In Circulation $62B (+0.43%)

In Exchanges $1.6B (-2.41%)

Funding Rate   Bearish Signal

Positive funding rates indicate traders are Bullish

Bitmex -0.01% (-190%)

Binance 0.01% (-20%)

BTC Metrics Bearish Signal

A decrease in Bitcoin on exchanges is bullish, indicates investors are moving coins to cold storage

# BTC in Exchanges 2.6M (0.14%)

Sentiment

Crypto Daily Report – June 4

Futures CME Bearish Signal

A positive spread between Futures Prices and Spot Prices is Bullish

BTC Price $35,870 (-7.52%)

Spot Basis   $-204 (-0.56%)

Volume 4,669 (5.87%)

Open Interest  7,181 (-0.99%)


Options CME Bullish Signal

Higher open interest change in a bull market is bullish for the sector

Volume 23.00 (4.55%)

Open Interest 980 (2.19%)

All metrics as of Jun 3, 2021 11:25:45 PM
Crypto Prices
SymbolMarket CapLast PriceDaily ChangeYear to DateRelative to BTC YTD
BTC$676B$36,074-7.21%24%
ETH$301B$2,593-7.91%252%227%
BNB$58B$376-11%907%883%
ADA$53B$1.66-11%811%787%
DOGE$46B$0.3572-13%7,665%7,640%
XRP$43B$0.9334-10%326%302%
DOT$23B$24.25-11%162%138%
BCH$12B$655-9.08%91%67%
LINK$12B$27.95-13%148%124%
LTC$12B$173-9.90%39%15%
Our Deep Research Projects
IOTA$3.4B$1.21-15%307%283%
BSV$3.2B$171-7.35%4.89%-19%
AVAX$2.3B$17.79-12%459%435%
AMP$1.5B$0.0362-8.44%448%424%
ZIL$1.4B$0.1222-15%46%22%
ZEN$1.1B$102-9.36%779%754%
INX$170k$0.00095.46%-88%-113%

All prices as of Jun 4, 2021 12:38:54 PM

Exchanged Traded Products (ETPs)
SymbolPremium to NavLast PriceDaily ChangeYear to DateRelative to BTC YTD
GBTC-13%$32.043.02%-8.67%-33%
BITW62%$66.005.43%25%1.08%
ETHE-3.66%$28.201.51%135%111%
QBTC-6.96%$62.821.72%16%-8.06%
QETH-5.76%$58.291.82%170%145%

All prices as of Jun 4, 2021 8:38:58 AM

Stocks
SymbolMarket CapLast PriceDaily ChangeYear to dateRelative to BTC YTD
PYPL$303B$258-1.44%11%-13%
SQ$96B$219-0.70%-1.04%-25%
COIN$61B$2410.38%-37%-61%
SBNY$14B$248-0.24%83%59%
MSTR$4.8B$5010.54%18%-6.52%
SI$2.9B$114-0.02%70%46%
RIOT$2.7B$30.481.49%85%61%
MARA$2.4B$25.641.58%133%108%
MOGO$488M$7.75-1.77%93%68%

All prices as of Jun 3, 2021 11:30:26 PM

*COIN YTD since 14/04/2021

Important Levels and Targets
BTCETH
LevelPriceDistancePriceDistance
TARGET$100,000177%$10,500305%
RESISTANCE II$43,00019%$5,00093%
RESISTANCE I$39,0008.11%$3,00016%
CURRENT PRICE$36,074$2,593
SUPPORT I$34,606-4.07%$2,000-23%
SUPPORT II$30,145-16%$1,490-43%
SUPPORT III$20,000-45%$1,380-47%
News
QUICK BITS
Google Lifts Crypto Ad Ban, Pausing Second Crypto Winter
BlockTribuneRead the full story >
In a surprising turn of events, Google has lifted a nearly three-year-old policy banning cryptocurrency exchanges from using its advertising services. Having previously blacklisted the word “Ethereum”, Google’s turnaround shows the new credibility of...
What is Snapshot? The Decentralized Voting System
Decrypt.coRead the full story >
Snapshot is a voting tool based on the IPFS decentralized storage system, used by many crypto projects to poll their user bases.
Animoca Brands subsidiary to launch collection of Olympics-themed NFTs
The BlockRead the full story >
The collection of non-fungible tokens features pins that celebrate posters, mascots and more from the Games’ 125 years of history. The post Animoca Brands subsidiary to launch collection of Olympics-themed NFTs appeared first on The Block.
Bitcoin 2021: Bitcoin Mining And The Next Industrial Revolution
Bitcoin MagazineRead the full story >
In this session, Matt Roszak, Emiliano Grodzki, Amanda Fabiano and Kevin Zhang discuss the mining industry’s future.
MARKET DATA
Bitcoin Dips as Elon Musk Tweets Broken Heart Emoji
Bitcoin.comRead the full story >
The price of the leading cryptocurrency took a hit after billionaire Elon Musk mentioned Bitcoin in a new tweet hinting at a breakup. Musk’s latest crypto post, featuring a broken heart emoji and a reference to a Linkin Park song, effectively halted ...
Decentralized Storage Project Filecoin Up 25% in Sea of Red
Decrypt.coRead the full story >
While the rest of the market takes a valiant knee, the price of Filecoin stands proud, up 25% on the day.
CRYPTO INFRASTRUCTURE
Filipinos Can Now Cash in Crypto Without Fees Through Moneybees OTC Outlets
Bitcoin.comRead the full story >
PRESS RELEASE. With cryptocurrency adoption increasing in the Philippines, Filipino users are looking for ways to convert their digital assets into cash at an affordable rate. The Central Bank of the Philippines has recorded P76 billion (US$ 1.5B) wo...
Bank of Ghana ‘in the Advanced Stages of Introducing a Digital Currency’— Governor Repeats Anti-Cryptocurrency Claims
Bitcoin.comRead the full story >
The governor of Ghana’s central bank, Ernest Addison, has said his institution is now “in the advanced stages of introducing a digital currency.” However, before its release into circulation, the digital currency—which is also known as the “e-cedi”— ...
Crypto Bank Anchorage Announces ETH-Backed Loans for Institutions
CoinJournalRead the full story >
Institutional clients holding Ethereum can now access bank-grade loans, with custodied ETH providing collateral… The post Crypto Bank ...
REGULATION
India’s central bank still has ‘major concerns’ on crypto, says the governor
The BlockRead the full story >
The Reserve Bank of India (RBI) continues to have "major concerns" around crypto, Governor Shaktikanta Das has said. The post India’s central bank still has ‘major concerns’ on crypto, says the governor appeared first on The Block.
Chinese province sounds fresh alarm on ‘illegal’ crypto schemes
CryptoSlateRead the full story >
China’s Hainan province issued a fresh warning about illegal crypto schemes yesterday, adding to what is an ongoing campaign against the growth of the industry in the region. The post Chinese province sounds fresh alarm on ‘illegal’ crypto schemes a...
FUNDRAISING AND M&A
'Y Combinator of DeFi' Project Impossible Finance Raises $7M
Decrypt.coRead the full story >
Despite raking in $7 million from various notable investors, Impossible Finance still has to convince users that building on Binance Smart Chain is safe.
Automata Network Raises $2.4M in Funding Ahead of Binance Launchpad Release
CryptoPotatoRead the full story >
After receiving $1 million in a funding round in March, Automata has raised $2.4 million on Binance Launchpool to provide traceless privacy for dApps.
DeepDAO secures $3M for expansion even as DAO treasuries halve in one month
BtcEthereumRead the full story >
Data analytics website, DeepDAO, has secured $3 million from notable investors to expand its data suite for tracking decentralized autonomous organizations. DeepDAO, a website aggregating data on decentralized autonomous organizations (DAOs), has ra...
BSC’s Impossible Finance raises $7M for multi-chain DeFi incubator
BtcEthereumRead the full story >
DeFi protocol Impossible Finance is building a multi-chain incubator to expand out from BSC. Impossible Finance, a Defi protocol built on Binance Smart Chain, has completed a $7 million seed funding round backed by over 125 institutional and angel i...

Reports you may have missed

Crypto markets are declining following news that most of the SEC’s lawsuit against Coinbase will proceed (more below). BTC (-1.27%) reached intraday highs of $71.8k before declining to $69k after the news. Rumors have circulated that Morgan Stanley and PNC will soon approve access to Bitcoin ETFs on their wealth management platforms. Together, Morgan Stanley and PNC hold over $1.5 trillion in client assets and likely will provide a tailwind...

Following the worst week of ETF flows since inception, BTC (+3.89%) is rebounding, rising to $69.6k, and ETH (+4.09%) has reclaimed the $3,500 mark. Last week’s outflows totaled $888 million, representing about a fifth of the inflows seen in the previous two weeks. ONDO, an institutional RWA protocol, is one of the top performers today, rising 7.61% as investors remain optimistic about the future of tokenized assets and their ability...

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