CoinMarketCap: Bitcoin tests resistance level at $70,000
Figures from the analytical portal CoinMarketCap say that Bitcoin is winning back the fall of March and is trying to overcome the resistance level of $70,000. Today, March 25, the first cryptocurrency by capitalization showed a daily increase of 6%, reaching the value level of $69,800 at the moment. On the weekly timeframe, the price increase was about 4%. Thus, Bitcoin almost won back the fall.
Against the backdrop of asset growth, the Bitcoin market capitalization exceeded 6% and reached 1.37 trillion. This was accompanied by an explosive increase in daily BTC sales by 57.7% with a total volume of $36.4 billion. On the eve of the event, popular crypto expert and investor Michael van de Poppe stated that based on the analysis of the weekly candlestick chart, it can be concluded that approaching the market value of BTC to the relative bottom - and the likelihood of a rebound. “Over the coming week, investors will be closely monitoring key economic indicators, including the US Federal Reserve's inflation gauge, for valuable insight into the outlook. It is likely that Bitcoin will test the $70,000 level in the coming week,” says Michael van de Popp. The increase in the value of Bitcoin is due to strong market momentum and growing investor confidence against the backdrop of steady growth in the altcoin market, the crypto expert believes. Earlier it became known that clients of the American betting shop Kalshi, which is regulated by the US Commodity Futures Trading Commission (CFTC), now have access to forecast bets on the date of significant events in the crypto industry. For example: when Bitcoin can reach $100,000.
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