Bitcoin and Ether Report Small Gains as Altcoins Exhibit Mixed Trends
Bitcoin gained 3.10% on March 24, trading at $86,700, while Ether rose by 1.89%, priced at $2,037. Overall crypto market cap increased to $2.83 trillion amid volatile market conditions. Some altcoins were mixed, with many showing minor gains or losses.
On March 24, Bitcoin recorded a profit of 3.10 percent on international exchanges, trading at $86,700 (approximately Rs. 74.5 lakh). In the Indian market, Bitcoin experienced a two percent price increase, trading between $89,423 (around Rs. 76.8 lakh) and $90,375 (about Rs. 77.7 lakh). The overall cryptocurrency market remains volatile, particularly with altcoins trading inconsistently.
Bitcoin is currently in a consolidation phase, remaining below $86,000 (roughly Rs. 74 lakh) while maintaining support above $81,000 (approximately Rs. 70 lakh). Market sentiment appears bullish, with 60.52 percent of Binance Futures traders holding long positions, which suggests expectations for a potential upside breakout, according to the CoinSwitch markets desk.
Ether also exhibited small gains alongside Bitcoin over the weekend, with a 1.89 percent increase on international exchanges, now priced at $2,037 (approximately Rs. 1.75 lakh), and a five percent rise in India, where it trades at $2,110 (about Rs. 1.81 lakh).
Despite a three-month downtrend, large investors are accumulating Ethereum, as the number of wallets holding at least $100,000 worth of Ether increased from around 70,000 on March 10 to over 75,000 by March 22, according to Glassnode. Overall macroeconomic concerns continue to exert pressure on all markets, including cryptocurrencies, leading to potential sideways trading until April, stated Edul Patel, CEO and co-founder of Mudrex.
The crypto price tracker indicated that assets including Ripple, Solana, Leo, Avalanche, Stellar, and Shiba Inu are trading positively alongside BTC and ETH, with Monero, Cronos, EOS Coin, Elrond, Iota, and Polygon also seeing minor gains. Conversely, Binance Coin, Dogecoin, Cardano, Tron, Chainlink, and Litecoin have endured losses, alongside Bitcoin Cash, Uniswap, Aave, Cosmos, Bitcoin SV, and Neo Coin which also logged price dips.
In the past 24 hours, the overall cryptocurrency market cap increased by 2.30 percent, reaching $2.83 trillion (approximately Rs. 243,12,944 crore), according to CoinMarketCap. With rising liquidity and major assets positioned at significant technical levels, investors are monitoring closely for indications of the next major movements in Bitcoin and Ethereum, as they prepare for potential volatility and trend reversals, remarked Avinash Shekhar, Co-Founder and CEO, Pi42.
In summary, Bitcoin and Ether witnessed small gains, with Bitcoin trading at approximately $86,700 on international exchanges and Ether at $2,037. Despite ongoing macroeconomic concerns leading to sideways trading, large investors are accumulating significant holdings in these assets. The overall crypto market cap has experienced a notable increase, though numerous altcoins showed mixed performance, indicating underlying volatility in this sector.
Original Source: www.gadgets360.com
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