Crypto Daily Report – March 21

Mar 21, 2022
body div center ul, body div center li { font-size: 22px; margin-left: 10px !important; margin-right: 0 !important; Most Important Daily Data and News for Digital Assets Crypto Daily ReportThe Most Important Daily Data for Digital Assets Daily Updates from FSInsightMarch 21, 2022Despite equities being a mixed bag, the global crypto market remains relatively risk-on to start the trading week, as smart contract platforms and DeFi sectors are up over 2% over the prior 24 hours. Meanwhile, bitcoin (-1.02%) is trending lower, and ether (+1.91%) appears to be fighting resistance at $3k. This risk-on behavior is reflected in BTC dominance, down approximately 1% since last week. Goldman Sachs made history this morning as it became the first major US bank to complete an OTC crypto transaction. The banking giant traded a bitcoin-linked non-deliverable option through Galaxy Digital. This news demonstrates the maturation of crypto and its continued adoption by traditional market participants. It is likely that banks will continue to find ways to offer direct and customized exposure to digital assets. Bitcoin mining difficulty dropped slightly last week for the second consecutive downward adjustment for the network. While we have yet to see a conclusive reduction in network hash rate, the

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CRYPTO MARKET UPDATE Despite rates moving lower today, the DXY is surging higher due to weak economic data from Europe. This is a major driver behind the move lower in crypto, with BTC -0.70% breaking below $67k, ETH 0.39% finding support around $3500, and SOL -1.84% hovering near $152 after bouncing off $150 this morning. Investors are treading carefully ahead of tomorrow's CPI and FOMC announcements, where headline inflation is expected at 3.4%...

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