  Everything you need to make sense of the crypto markets and beyond By the CoinDesk Markets Team Edited by Lawrence Lewitinn, Managing Editor, Global Capital Markets April 8, 2021 Sponsored by  (Price data as of April 8 @11:00 UTC) If you were forwarded this newsletter and would like to receive it, sign up here.
Good morning. Here's what we're writing about:
Check out the CoinDesk TV show "First Mover," hosted by Christine Lee, Lawrence Lewitinn and Emily Parker, at 9 a.m. U.S. Eastern time. Today the show will feature guests:
Biggest Movers These are the biggest movers in the CoinDesk 20 over the past 24 hours:
Gainers:
The CoinDesk 20 filters from the larger universe of thousands of cryptocurrencies and digital assets to define a core group of 20. These assets constitute roughly 99% of the market by volume at eight of the largest and most trustworthy exchanges.
Market Moves by Omkar Godbole  Indicator Suggests Bitcoin is Overdue For a Big Price Move
A popular price-chart indicator known as the Bollinger bandwidth suggests the bitcoin could soon chart a big move – up or down.
The leading cryptocurrency has spent a better part of the last three weeks trading in the range of $50,000 to $60,000. The consolidation has worsened of late, with bitcoin bulls unwilling to lead the price action above $60,000 and bears struggling to force a break below $55,000.
Due to the persistent lack of clear directional bias, the Bollinger bandwidth, a price volatility gauge, has declined to a four-month low of 0.15. Bitcoin (BTC) witnessed big moves during the 2017 bull run each time the bandwidth fell to 0.15.
The indicator is calculated by dividing the spread between the Bollinger bands by the 20-day average of the cryptocurrency's price. Bollinger bands are volatility lines placed two standard deviations above and below the 20-day average of price.  Bitcoin's daily chart, 2017 (Source: TradingView) The metric dropped to around 0.15 in February, April, and late October 2017, just before price rallies. A similar reading in March, July, and September paved the way for market corrections.
The data tells us that the impending volatility explosion is agnostic to price direction – the big move can happen on either side.  Bitcoin's daily chart, 2020-2021 (Source: TradingView)
Bitcoin's ongoing range play looks quite similar to the early December consolidation below $20,000, which ended with breakout following the Bollinger bandwidth fell to 0.15.
While the seasonality for April is biased bullish, some analysts say the market looks overstretched. "Everyone who's been in crypto for a while can recognize that things have been getting absolutely ridiculous on every level," trader and analyst Alex Kruger tweeted on Wednesday.
Therefore, the impending big move could be bearish in nature.
Read the original story here: This Indicator Suggests Bitcoin is Overdue For a Big Price Move
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Technician's Take by Damanick Dantes Bitcoin Drifts Lower; Support Around $54K-$55K Bitcoin (BTC) is trading lower as oversold moves on the hourly chart have been limited to the 50-period volume weighted moving average. Buyers have continued to take profit after another failed attempt to move beyond $60,000 on April 1.  Hourly BTC chart shows support and resistance zones and the relative strength index (Source: TradingView)
BOLO Be on the look out for these upcoming events:
ICYMI In case you missed it, here's yesterday's episode of "First Mover" on CoinDesk TV:
Ripple CTO on XRP, Crypto Pullback, Buying Real Estate with BTC Ripple Chief Technology Officer David Schwartz joins "First Mover" to discuss XRP and what Ripple's tech side is doing while its lawyers fight an SEC suit. Also, crypto markets analysis with Katie Stockton of Fairlead Strategies. Plus, buying real estate with bitcoin: a Chicago commercial building owner and his bitcoin consultant explain the process.
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A message from CoinDesk  Investor Momentum to NFT Boom: CoinDesk Research's Quarterly Review
Introducing CoinDesk Research's quarterly review, covering the main developments over the first three months of 2021 in Bitcoin, Ethereum, DeFi, stablecoins and – of course – NFTs.
The report presents over 100 insights on how retail investors are picking up market momentum, how Ethereum activity is not being driven by NFTs as much as one might think, how stablecoins have responded to increased activity, how DeFi is for now the realm of decentralized exchanges and more.
Disclaimer: The information presented in this message is intended as a news item that provides a brief summary of various events and developments that affect, or that might in the future affect, the value of one or more of the cryptocurrencies described above. The information contained in this message, and any information liked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. The information presented herein is accurate only as of its date, and it was not prepared by a research analyst or other investment professional. You should seek additional information regarding the merits and risks of investing in any cryptocurrency before deciding to purchase or sell any such instruments. ATTENTION: Scammers have been sending fraudulent emails with links to sites disguised to look like coindesk.com. If you are in doubt about a link, type https://www.coindesk.com directly into your browser; do not copy and paste. Remember, if something seems too good to be true, it probably is.
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