Syz the moment

Bitcoin (XBTUSD) consolidating (down 6% now). Keep an eye on next support zone that seems interesting 59'317-62'750. Source : Bloomberg

Crude Oil WTI confirmed yesterday it's short term bullish trend by closing over 79.77. Swing low support is at 76.79. Source : Bloomberg

By comparison, it took the Gold ETF, $GLD, 3 years to hit $15 billion in assets under management, per Zerohedge. At this pace, $IBIT could overtake $GLD in a matter of days...

source : barchart

source : yahoofinance, acemaxx

Japan's largest employers announced record pay increases on Wednesday. Every spring, unions and management hold talks, known as shunto, to set monthly wages ahead of the start of Japan's fiscal year in April. Toyota Motor, Hitachi and Panasonic Holdings were among the companies that on Wednesday fully met labor unions' demands to raise wages. Nippon Steel's response exceeded the union's demands, raising monthly wages by a record 35,000 yen ($237), or 14%. Toyota did not disclose details of its wage increases but said it fully met union demands. The Toyota Motor Workers' Union has demanded a record bonus payment worth 7.6 months of salary, citing the company's all-time high annual operating profit forecast of 4.5 trillion yen for the current fiscal year. The union has also proposed specific demands for each job category, up to a 28,440 yen monthly wage increase. Hitachi and Toshiba said their pay hikes are the largest since the current negotiation style was introduced in 1998. According to the Japan Council of Metalworkers' Unions (JCM), an alliance of unions in the manufacturing industry, 87.5% of member organizations had their demands either fully met or exceeded. source : nikkeiasia

Copper prices have remained significantly below their peaks in 2022, yet they've established a robust foundation over the past eighteen months, from which they are now beginning to rise. Based on the price and momentum readings, several technical analysts believe this could be the start of a more sustained move to the upside. source : tradingview

Bitcoin faces a “sell-side liquidity crisis” by September if institutional inflows continue, an industry analyst says. In a thread on X on March 12, Ki Young Ju, founder and CEO of on-chain analytics platform CryptoQuant, predicted a BTC supply watershed “within six months.” Bitcoin as an institutional investment allocation is only just getting started, industry participants have said, as United States-based spot Bitcoin exchange-traded funds (ETFs) gain momentum. Now holding nearly $30 billion, they have become the most successful ETF launch in history. Should the trend continue, however, a new phenomenon could arise where THERE WILL BE NOT ENOUGH BTC AVAILABLE TO MEET DEMAND. “Bears can’t win this game until spot Bitcoin ETF inflow stops,” Ki summarized. He noted that ETFs alone put away more than 30,000 BTC last week, and with 3 million BTC in exchange and miner wallets, the odds of a supply-induced price shock become clear. “Last week, spot ETFs saw net flows of +30K BTC. Known entities like exchanges and miners hold around 3M BTC, including 1.5M BTC by US entities,” he continued. “At this rate, we’ll see a sell-side liquidity crisis within 6 months.” Given BTC price gains since the ETF launch in January, popular commentator WhalePanda notes, the dollar value of GBTC’s diminished BTC holdings has, in fact, barely declined. “The problem is that with the price going up and their massive outflows, their holdings in $ are still same as where we started at.” When the tipping point from ETF demand comes, Ki forecasts the BTC price impact may be beyond market expectations. “Once a sell-side liquidity crisis happens, its next cyclical top may exceed our expectations due to limited sell-side liquidity and thin orderbook,” he concluded. To avoid the liquidity crisis, we need to see whales starting to move their BTC to exchanges and sell them. This should happen if BTC price hit higher levels. The law of supply and demand... Source: www.zerohedge.com