Cryptocurrency Price on March 22: Bitcoin holds near $66,200; BNB, XRP jump over 5%
Synopsis
Cryptocurrency markets were trading higher on Friday, led by altcoins such as Ethereum, BNB, XRP and Dogecoin, after Fed chair Jerome Powell kept hopes alive for an interest rate cut in June.
"Bitcoin slipped to $65,000 level amid a stronger US dollar which might be due to the Swiss central bank cutting interest rate by 25 basis points," said Edul Patel, CEO of Mudrex.
Meanwhile, Sathvik Vishwanath, Co-Founder & CEO of Unocoin, said, "Despite recent profit-taking, Bitcoin's rebound signals continued bullish sentiment. With the expectation of three rate cuts and favorable macroeconomic conditions, Bitcoin may regain a record high of $73,000."
Other popular altcoins such as BNB (5.5%), XRP (5.8%), Cardano (1.5%), Avalanche (3%), Dogecoin (5%), Shiba Inu (4.1%), and Toncoin (3.2%) surged. On the other hand, Solana fell 4%. Meanwhile, the global cryptocurrency market cap increased 0.3% to around $2.52 trillion in the last 24 hours.
The total volume in DeFi is currently $10.56 billion, 9.25% of the total crypto market 24-hour volume. The volume of all stablecoins is now $102.4 billion, which is 89.71% 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, fell to $1.3 trillion. Bitcoin's dominance is currently 51.67%, according to CoinMarketCap. BTC volume in the last 24 hours fell 31.6% to $41.4 billion.
Stocks Recommendations
Tech view by Rajagopal Menon, Vice President at WazirX
The Relative Strength Index (14) sits at 53, indicating “Neutral”. The Stochastic %K (14, 3, 3) at 44 indicates “Neutral,” and the Average Directional Index (14) at 38 indicates a “Neutral” outlook.
(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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