BTC traded over $70,000 on consecutive days, raising hopes that the bullish Bitcoin prices will continue supporting a crypto market rally.
Any signs of a retrace or dip in the crypto price charts are long gone, as the bullish Bitcoin prices have been dominant. Bitcoin even crossed $71,500 in the last 24 hours but couldn’t sustain the sharp uptrend. Instead, BTC has comfortably settled above $70,000, which is a positive signal. The days leading up to the BTC-halving event would be crucial to predicting Bitcoin’s trajectory.
ETH has also seen weekly returns of 1.4%, and is gradually recovering towards its all-time high trading levels. It is trading above $3,500 currently, with a market cap of over $428 billion. DOGE was another highlight on the last day, as it rallied by around 4%. Other tokens have been trading at comparatively static or lower levels.
In other updates, the CEO of global asset management firm BlackRock admitted to the potential of crypto. He noted that BlackRock’s spot Bitcoin ETF was the fastest-growing ETF in history.
Further, he stated, “We’re creating now a market that has more liquidity, more transparency and I’m pleasantly surprised. I would never have predicted it before we filed it that we were going to see this type of retail demand.”
The inflows from the ETFs have been one of the main factors that caused the rally in the crypto price charts.
BTC/USD 1D price chart
Bitcoin is currently trading at around $70,300 on March 28, 2024, with BTC/USD trading higher by a margin of 0.5% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.38 trillion in the last 24 hours.
BTC/USD is trading higher than its 20-day EMA (67,899.29), as BTC’s 24-hour volume was at around $42 billion. The global crypto market cap decreased by around 0.14%, trading above $2.63 trillion. BTC’s year-to-date returns are at 67.66%.
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