On March 14, Bitcoin dropped below $82,000 amid a slight decline in the cryptocurrency market, with a total market cap of $2.68 trillion. The TRUMP token emerged as the top gainer with a 16% increase, while Ethena recorded a loss of nearly 7%. Analysts observed ongoing market volatility and extreme fear, with varying performances in altcoins. Investors are urged to proceed cautiously given the risks associated with cryptocurrency transactions.

On March 14, the cryptocurrency market experienced a slight downturn, with the global market capitalization decreasing to $2.68 trillion. Bitcoin (BTC) fell below $82,000. Other notable altcoins, such as Ethereum (ETH), Solana (SOL), Ripple (XRP), and Litecoin (LTC) demonstrated mixed performance amid a reported Market Fear & Greed Index of 18, indicating extreme fear among investors. Notably, the TRUMP token emerged as a significant gainer with an impressive 16% rise, while Ethena (ENA) recorded a loss of nearly 7%.

Bitcoin’s price was reported at $81,947.72, reflecting a 24-hour decline of 1.73%, with Indian exchanges showing it at approximately Rs 80.95 lakh. In contrast, Ethereum experienced a slight increase to $1,889.42, recording a 0.71% gain and priced at Rs 2.13 lakh in India. Dogecoin (DOGE) faced a minor loss of 0.55%, standing at $0.1690. Litecoin (LTC) also dropped by 1.58%, trading at $88.76. Ripple (XRP) saw modest growth with a price of $2.29 and an increase of 2.49%, while Solana (SOL) slipped by 0.52%, priced at $124.62.

The top five crypto gainers for March 14 included Official TRUMP (TRUMP) with a 24-hour surge of 15.56%, Sonic (S) increasing by 13.11%, Kava (KAVA) by 9.11%, Sei (SEI) gaining 7.21%, and Jito (JTO) up by 4.71%. Conversely, the top losers included Ethena (ENA) dropping 6.45%, Movement (MOVE) down by 4.55%, Bittensor (TAO) falling 4.52%, Bitcoin Cash (BCH) decreasing 4.51%, and Story (IP) losing 4.26% of its value.

Market analysts provided insights into the prevailing conditions. CoinSwitch Markets Desk indicated that Bitcoin had briefly surpassed its 200-day moving average but soon retreated, highlighting ongoing market volatility. Meanwhile, CoinDCX Research noted Bitcoin’s struggle to maintain its upward trend against bearish pressures, while emphasizing memecoins, particularly the TRUMP token, for their notable strength in an otherwise fearful market environment.

Overall, the current sentiment within the cryptocurrency market remains cautious with an emphasis on volatility and support levels. Investors are advised to remain informed and consider expert opinions before engaging in crypto transactions, given the inherent risks associated with these markets.

In conclusion, as of March 14, 2023, Bitcoin has dipped below $82,000 while witnessing mixed performance in the altcoin market. The TRUMP token has made significant gains, alongside a few other cryptocurrencies, while the market sentiment is characterized by extreme fear. Analysts suggest that while Bitcoin attempts to maintain an upward trajectory, the market remains volatile and numerous investments face inherent risks. Investors must exercise caution and seek expert guidance before proceeding with any transactions.

Original Source: news.abplive.com

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