“BTC broke above $28,000 briefly on Monday as the collapse of US banks like SVB and signature has rekindled the debate on the importance of DeFi and digital assets. Bitcoin is poised to test $30,000 very soon but may face some resistance at that level. The FOMC meeting this week will be a major market-moving factor,” Shivam Thakral, CEO of BuyUcoin, said.
Edul Patel, Co-founder and CEO at Mudrex, said, “With instability in the banking sector, inflation data that exceeded expectations, and renewed optimism about a dovish Federal Reserve, Bitcoin has reached levels unseen in approximately nine months.”
Bitcoin (BTC) rose 1.10% to $27,519, while Ethereum (ETH) was above the $1,750 level. The global cryptocurrency market cap was trading around $1.16 trillion, rising 0.13% in the last 24 hours.
The total volume in DeFi is currently 6.67 billion, 9.30% of the total crypto market 24-hour volume. The volume of all stablecoins stood at $61.89 billion, which is 86.26% of the total crypto market 24-hour volume.
BTC volume in the last 24 hours stood at approximately $41.76 billion, rising 29.55%. The market cap of Bitcoin was around $531.77 billion. Its dominance is currently 45.90%, an increase of 0.48% over the day, according to CoinMarketCap.
“The BTC/USD pair is bullish and faces resistance at $27,740; a breakout could push the price of BTC to $29,000 or $30,700,” said Sathvik Vishwanath, Co-Founder & CEO of Unocoin.Crypto Cart: Quick Glance (Source: coinmarketcap.com, data as of 11.03 hours, IST on March 20, 2023)
Bitcoin $27,519 1.10%
Ethereum $1,761 -1.37%
Tether $1 0.08%
BNB $335.78 0.16%
XRP $0.3833 0.70%
Cardano $0.3404 -0.52%
Polygon $1.14 -4.87%
Dogecoin $0.07393 -1.24%
Solana $22.41 2.32%
Polkadot $6.34 -1.79%
Tron $0.06652 0.11%
Shiba Inu $0.00001072 -2.07%
Litecoin $82.16 -1.97%
(Note: Price change in last 24 hours)
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)