04 Apr 2023
Eight days to Shanghai
How much selling pressure may the Shanghai upgrade realistically bring to the market?
This report contains our outlook on April, where we argue that increased sell-side supply could lead to a slowdown after a very strong March. We also examine how the current CME contango may impact futures-based BTC ETFs in the future, in addition to typical Easter effects on the crypto market.
Bitcoin still consolidates at $28k
Trading volumes down 37% in the past week
CME's basis falls below 5%
46% of all staked ETH is in profit
Easter volatility has been typical in the past five years in BTC