Weekly Pill — Volume 011
TL;DR
- ETH ↓15% to $3k and BTC ↓11% to $63k
- ETHBTC ↓5% to 0.049
- ETHBTC and ETH TVL Divergence
- Last week to Get Paid to Borrow Bitcoin
ETH/BTC Market Snapshot
ETH, BTC, and ETHBTC all experienced losses this week, with declines of 15%, 11%, and 5% respectively, retracing the gains seen last week. The news of a possible conflict in the Middle East has led to consolidation of risk assets.
Get Paid to Borrow Bitcoin
Don’t miss out! This is the final week to open an eBTC CDP and qualify for juicy incentives on your ETH. We’ll PAY YOU to Borrow Bitcoin.
Dose of ETH
JJcycles highlights an intriguing divergence between ETHBTC and the TVL on the ETH mainnet. Historically, these two metrics have closely aligned, indicating potential upside value for ETHBTC.
Daan Crypto outlines the structural ETHBTC range that has been forming since 2021. We are currently at the bottom of this range, which could provide strong support.
Dose of BTC
It’s important to keep the market turmoil in perspective. The Bitcoin halving is just 4 days away and like our friend rektdiomedes, we remain bullish.
And to get you excited for the halving, here’s a great Bitcoin ad from Kraken.
Security Spotlight
Security doesn’t stop at launch. Badger is running a post-launch bug bounty with Immunefi for up to $100k.
