Cryptocurrency Price on March 26: Bitcoin jumps above $70,000; Internet Computer, Shiba Inu rise up to 14%
Reuters
Synopsis
Bitcoin surged past the $70,000 mark on Tuesday in early trade, surpassing the level for the first time in 10 days and gaining nearly 5% over the past 24 hours. Ethereum was up 4.8% during the same period, while tokens for major layer-1 blockchains Solana and Avalanche jumped nearly 4%.
By Navdeep Singh, ETMarkets.com
Major crypto tokens started the week with a strong rally, bouncing back from recent losses as Bitcoin once again traded above its 2021 peak. Meanwhile, the global cryptocurrency market cap also surged 4.4% to around $2.67 trillion in the last 24 hours.
"Bitcoin reclaiming $70,000 signals that the market is ready to push for another all-time high before the halving in 25 days. Bitcoin’s retest of $61,000 last week is likely a local low which will provide strong support post-halving in case of a dip," said Vikram Subburaj, CEO, of Giottus.
Meanwhile, Shivam Thakral, CEO of BuyUcoin, said, "After a week of consolidating, Bitcoin broke $71,000 Monday and is now hovering around $70,000 which is acting as a temporary support. The next target for Bitcoin would be the $80,000 level breakout which would confirm the foundation for $100,000."
Other altcoins such as BNB (1.4%), XRP (2%), Cardano (3.1%), Dogecoin (3.4%), Chainlink (5.9%), Shiba Inu (4.3%), and Internet Computer (14.5%) surged.
The total volume in DeFi is currently $10.95 billion, 9.7% of the total crypto market 24-hour volume. The volume of all stablecoins is now $100 billion, which is 88.72% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.
In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, rose to $1.387 trillion. Bitcoin's dominance is currently 52.01%, according to CoinMarketCap. BTC volume in the last 24 hours rose 48.1% to $42.4 billion.
"Technically, BTC appears to be resuming its uptrend after a brief pullback. It's holding above $70,000 and aiming to surpass its recent all-time high around $73,880, which could trigger a significant upward movement. BTC dominance has been declining, providing an opportunity for altcoins to excel," said CoinDCX Research Team.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Bitcoin surged past the $70,000 mark on Tuesday in early trade, surpassing the level for the first time in 10 days and gaining nearly 5% over the past 24 hours. Ethereum was up 4.8% during the same period, while tokens for major layer-1 blockchains Solana and Avalanche jumped nearly 4%."Bitcoin reclaiming $70,000 signals that the market is ready to push for another all-time high before the halving in 25 days. Bitcoin’s retest of $61,000 last week is likely a local low which will provide strong support post-halving in case of a dip," said Vikram Subburaj, CEO, of Giottus.
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Meanwhile, Shivam Thakral, CEO of BuyUcoin, said, "After a week of consolidating, Bitcoin broke $71,000 Monday and is now hovering around $70,000 which is acting as a temporary support. The next target for Bitcoin would be the $80,000 level breakout which would confirm the foundation for $100,000."
Other altcoins such as BNB (1.4%), XRP (2%), Cardano (3.1%), Dogecoin (3.4%), Chainlink (5.9%), Shiba Inu (4.3%), and Internet Computer (14.5%) surged.
The total volume in DeFi is currently $10.95 billion, 9.7% of the total crypto market 24-hour volume. The volume of all stablecoins is now $100 billion, which is 88.72% of the total crypto market 24-hour volume, as per data available on CoinMarketCap.
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In the last 24 hours, the market cap of Bitcoin, the world's largest cryptocurrency, rose to $1.387 trillion. Bitcoin's dominance is currently 52.01%, according to CoinMarketCap. BTC volume in the last 24 hours rose 48.1% to $42.4 billion.
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"Technically, BTC appears to be resuming its uptrend after a brief pullback. It's holding above $70,000 and aiming to surpass its recent all-time high around $73,880, which could trigger a significant upward movement. BTC dominance has been declining, providing an opportunity for altcoins to excel," said CoinDCX Research Team.
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(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
(You can now subscribe to our ETMarkets WhatsApp channel)
