Cryptocurrency Price on March 26: Bitcoin jumps above $70,000; Internet Computer, Shiba Inu rise up to 14%

Cryptocurrency Price on March 26: Bitcoin jumps above $70,000; Internet Computer, Shiba Inu rise up to 14%

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Major crypto tokens started the week with a strong rally, recovering from recent losses, as Bitcoin returned to trading above its 2021 peak. Meanwhile, the world cryptocurrency The market capitalization also increased by 4.4% to around $2.67 trillion in the last 24 hours.

Bitcoin surpassed the $70,000 mark on Tuesday in early trading, topping the level for the first time in 10 days and gaining nearly 5% in the past 24 hours. Ethereum is up 4.8% over the same period, while the tokens of major layer 1 blockchains Solana and Avalanche are up nearly 4%.

“Bitcoin's recovery of $70,000 indicates that the market is ready to hit another all-time high before the halving in 25 days. Bitcoin's retest of $61,000 last week is likely a local low that will provide strong support after the halving in case of a fall.” said Vikram Subburaj, CEO of Giottus.

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Meanwhile, Shivam Thakral, CEO of BuyUcoin, said: “After a week of consolidation, Bitcoin crossed $71,000 on Monday and is now hovering around $70,000, which acts as a temporary support. The next target for Bitcoin would be the breakout of the level of $80,000, which would confirm the foundation for $100,000.”Other altcoins like BNB (1.4%), XRP (2%), Cardano (3.1%), Dogecoin (3.4%), Chainlink (5.9%), Shiba Inu (4.3%) and Internet Computer (14.5%) increased. The total volume in DeFi is currently $10.95 billion, 9.7% of the total 24-hour volume of the crypto market. The volume of all stablecoins is now $100 billion, representing 88.72% of the total 24-hour cryptocurrency market volume, according to data available on CoinMarketCap. In the last 24 hours, the market capitalization of Bitcoin, the world's largest cryptocurrency, rose to $1.387 trillion. Bitcoin dominance is currently 52.01%, according to CoinMarketCap. BTC volume in the last 24 hours increased by 48.1% to $42.4 billion. “Technically, BTC appears to be resuming its uptrend after a brief pullback. It remains above $70,000 and aims to surpass its recent all-time high around $73,880, which could trigger a significant upward move. The dominance of “BTC has been declining, providing an opportunity for altcoins to excel,” said the CoinDCX research team.

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts are their own. They do not represent the views of The Economic Times)

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