Coinbase + Glassnode: The Q1 Guide to Crypto Markets

The Guide to Crypto Markets is a joint publication of Coinbase Institutional and Glassnode, and aims to provide a comprehensive view of the metrics and trends that matter the most to institutional investors.

Over 44-pages, the Guide dives deep into a myriad of topics, including:

• Bitcoin
• Ethereum
• Stablecoins
• Derivatives
• Portfolio allocation
• Market overviews

For institutional investors aiming to better understand the shifts that are happening in the digital asset space, this Guide is essential reading. You can download it for free here.

The 44-page Guide includes many highlights and key takeaways. Here are two of particular note.

A change in correlations

Crypto has historically shown low correlations with traditional asset classes. 2022 was an exception, when nearly all assets traded down in tandem, but 2023 saw a reversion to historical norms, indicating that crypto can be a source of idiosyncratic risk.

Bitcoin dominance rose again in 2023

Crypto dominance measures a cryptocurrency’s market capitalization as a percentage of the total market cap of all cryptocurrencies. Bitcoin dominance rose in 2023 with a flight to quality and as the market grew increasingly bullish about the approval prospects for spot bitcoin ETFs. Some market participants also view the April 2024 BTC halving as a potentially positive price catalyst.

These are just two of many insights you will find in the Guide to Crypto Markets. Make more informed decisions in Q1 by downloading it here.