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Cryptocurrency Price March 26: Bitcoin Jumps Above $70,000; Internet Computer, Shiba Inu Soars Up To 14%
Major cryptocurrency tokens started the week with a strong rally, bouncing back from recent losses as Bitcoin traded above its 2021 peak once again. Meanwhile, the global market cryptocurrency market cap has risen 4.4% to around $2.67 trillion over the past 24 hours. Bitcoin broke the $70,000 mark in early trading on Tuesday, breaking the level for the first time in 10 days and gaining nearly 5% over the past 24 hours. Ethereum is up 4.8% over the same period, while tokens for major layer 1 blockchains Solana and Avalanche are up nearly 4%.
“Bitcoin’s rebound above $70,000 signals that the market is poised 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 that will provide strong post-halving support if it declines,” said Vikram Subburaj, CEO of Giottus.
Meanwhile, BuyUcoin CEO Shivam Thakral said, “After a week of consolidation, Bitcoin broke above $71,000 on Monday and is now hovering around $70,000, which is acting as temporary support. The next target for Bitcoin would be a breakout of the $80,000 level, which would confirm the $100,000 base.”
Other altcoins like BNB (1.4%), Exchange rate risk (2%), Cardano (3.1%), Dogecoin (3.4%), Chainlink (5.9%), Shiba Inu (4.3%), and Internet Computer (14.5%) saw a surge.
Total DeFi volume is currently $10.95 billion, which is 9.7% of the total 24-hour cryptocurrency market volume. All stablecoin volume is now $100 billion, which is 88.72% of the total 24-hour cryptocurrency market volume, according to data available on CoinMarketCap.
Over the past 24 hours, the market capitalization of Bitcoin, the world’s largest cryptocurrency, has risen to $1.387 trillion. Bitcoin’s dominance currently stands at 52.01%, according to CoinMarketCap. BTC volume over the past 24 hours has risen 48.1% to $42.4 billion.
“Technically, BTC seems to be resuming its uptrend after a brief pullback. It is holding above $70,000 and is aiming to surpass its recent all-time high around $73,880, which could trigger a significant move higher. BTC dominance is declining, providing an opportunity for altcoins to excel,” CoinDCX research team wrote.
(Disclaimer: Recommendations, advice, opinions and views provided by experts are personal. They do not represent the views of The Economic Times)
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