Bitcoin Value Remains Pinned Around $66,000, Small Gains Hit Ether, Solana


The price of most crypto assets fluctuated over the weekend after the US decided not to revise or lower interest rates. Moving into the third week of March, the crypto price chart looked divided between profit-mining and loss-ridden cryptocurrencies. On Monday, March 18, Bitcoin gained a marginal 0.08 percent – ​​taking its trading value to $66,180 (approximately Rs 54.8 lakh). Between last Friday and today, the price of Bitcoin saw a decline of $ 1,585 (about Rs 1.30 lakh).

Gadgets360's crypto price chart on Monday showed that the value of Ether increased by 2.63 percent. Ether is currently trading at $3,467 (approximately Rs 2.87 lakh).

Last week, the price of Bitcoin and Ether witnessed fluctuations. While Bitcoin touched a new all-time high (ATH) of over $73,118 (roughly Rs. 60.5 lakh) – the trading price of Ether also touched $3,950 (roughly Rs. 3.27 lakh). Following the US decision not to ease interest rate hikes, prices of many crypto assets including BTC and ETH fell overnight.

“In the shorter time frame, BTC needs to retest the 50 EMA 4H to confirm the bullish trend, while ETH needs to retest the 20 EMA 4H to confirm a continued uptrend. In particular, this week’s US Fed funds rate and FOMC economic projections are expected to bring market volatility,” CoinDCX markets team told Gadgets360.

Solana, Binance Coin, Avalanche, Dogecoin, Shiba Inu and Polkadot recorded profits.

Other cryptocurrencies that made gains on Monday include Chainlink, Tron, Polygon, Near Protocol, Bitcoin Cash and Uniswap.

“With only 34 days left until the next halving, Bitcoin and the crypto markets could experience significant changes. Solana has shown impressive strength all week and is on track to its previous ATH above $200 (roughly Rs. 15,570), Shivam Thakral, CEO of BuyUcoin, told Gadgets 360.

Among the losing cryptocurrencies, Tether, Ripple, USD Coin and Cardano recorded losses.

Litecoin, Stellar, Zcash, Dash and Braintrust also recorded small losses on Monday.

The total market cap of the crypto sector increased by 2.16 percent in the last 24 hours. According to CoinMarketCap, the crypto market was valued at $2.58 trillion (approximately Rs 2,13,83,117 crore) at the time of writing.

“Growing uncertainty over US economic policies, particularly ambiguity over interest rate cuts, has created some uncertainty in market sentiments. However, optimists continue to view this as a short-term correction before more money comes in from institutional investors. “The retracement is in line with Bitcoin’s historical pattern and is not an alarming sign at all,” Rajagopal Menon, vice president of WazirX, told Gadgets360.

Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information provided in the article is not intended to constitute financial advice, trading advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV will not be responsible for any loss incurred from any investment based on any speculative recommendation, forecast or any other information contained in the article.

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