{"id":98165,"date":"2024-03-08T05:00:53","date_gmt":"2024-03-08T01:00:53","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=98165"},"modified":"2024-03-08T05:07:41","modified_gmt":"2024-03-08T01:07:41","slug":"crypto-rally-continues-as-fresh-all-time-highs-enthusiastically-eyed","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/crypto-rally-continues-as-fresh-all-time-highs-enthusiastically-eyed\/03\/08\/market-updates\/","title":{"rendered":"Crypto rally continues as fresh all-time highs enthusiastically eyed"},"content":{"rendered":"\n

Early on Thursday, traders saw a surge in the price of bitcoin as bulls began to reduce their stakes in the biggest cryptocurrency in the world. It peaked earlier on Tuesday at $69,202, then later on Wednesday, it dropped to about $60,000.

The digital currency has experienced a spectacular rise, rising 57% so far this year, driven by investors flooding US spot exchange-traded crypto products with cash and the possibility of a decline in global interest rates.

As of this writing, Bitcoin is consolidating around $66,950 and is probably going to try to break $69,000 again in the next days. $72,000 becomes a crucial target level for profit-taking once BTC enters price discovery mode; if this level is exceeded, the market can experience another exuberant bounce.

As this was going on, Bitcoin saw a spike to $66,000 after falling to $60,000. This attracted optimistic attention as a potential purchase opportunity. The goal is to breach the $69,000 barrier and go after the next resistance level at $70,200, with support around $65,600.
<\/p>\n\n\n\n

\"\"
Ethereum<\/figcaption><\/figure>\n\n\n\n


As of this writing, Ethereum is up 0.83%, trading at $3907.1. On Wednesday, it crossed the $3,800 threshold and beyond $3,860, reaching its highest level since January 2022. Later on, though, it dropped to $3,727. In the meantime, it was up almost 2% in early trading on Thursday, trading at roughly $3,800.

With the 20-day EMA on the 4-hour chart providing strong support, ETH is targeting the $4,100 mark as its next resistance. The major cryptocurrency tokens, Polygon, Avalanche, Polkadot, Solana, and BNB all saw 6-9% increases. Shiba Inu and Dogecoin saw declines of 16% and 8%, respectively.
While the overall volume of the cryptocurrency market fell by 29.9% to $173.36 billion in the last day, the global cryptocurrency market value increased by 1.9% to about $2.5 trillion. Stablecoin volume as a whole is currently $160.35 billion, or 92.5% of the 24-hour volume of the whole cryptocurrency market.

The largest cryptocurrency in the world, Bitcoin, had its market capitalization increase to $1.297 trillion in the past day. The current dominance of Bitcoin is 52.03%. The volume of BTC increased by 35.5% to $63.73 billion in the past day.
<\/p>\n","protected":false},"excerpt":{"rendered":"

Early on Thursday, traders saw a surge in the price of bitcoin as bulls began to reduce their stakes in the biggest cryptocurrency in the world. It peaked earlier on Tuesday at $69,202, then later on Wednesday, it dropped to about $60,000.The digital currency has experienced a spectacular rise, rising 57% so far this year, …<\/p>\n","protected":false},"author":13,"featured_media":98174,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[40,6827,49,36],"tags":[6904,10390,7001,6905,10953,7740],"class_list":["post-98165","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-cryptocurrencies","category-daily-economic-reports","category-economic-reports","category-market-updates","tag-bitcoin","tag-bnb","tag-cryptocurrency","tag-ethereum","tag-exchange-traded-crypto","tag-rate-cut"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/98165","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=98165"}],"version-history":[{"count":3,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/98165\/revisions"}],"predecessor-version":[{"id":98177,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/98165\/revisions\/98177"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/98174"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=98165"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=98165"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=98165"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}