After a decline over the weekend, the crypto market chart staged a rebound in the last 24 hours, led mainly by Bitcoin’s price range, which extended to over $68,000.
Bitcoin reversed the selling spree of the last few days and moved upward at the week’s beginning. It reclaimed the $68,000 mark as its support, improving other crypto indicators as well. As a result, the crypto market chart witnessed an upward curve, which could go further with a rally. Bitcoin’s price range is currently stable, and bulls could attempt the next breakout this week.
Other altcoins also took the cue from BTC and rose gradually. ETH surged by 4.1%, while SOL registered around 11% gains. AVAX was another clear winner, rallying by over 18%. DOGE and SHIB also saw significant returns.
Analysts and experts noted Bitcoin was heading towards a ‘danger zone’ before the halving event. Historically, it has dipped at such phases just before a halving event. Rekt Capital, a crypto technical analysis firm, mentioned how BTC had dipped by 20% and 40% in 2020 and 2026, respectively. Meanwhile, other heads of crypto firms were heavily bullish, claiming BTC will breach the $80,000 mark soon.
Even if Bitcoin holds $60,000 as its support in case of a bearish turn, it will be a strong foundation for 2024. Bulls could gather enough support at $60,000 to recover from dips.
BTC/USD 1D price chart
Bitcoin is currently trading at around $68,400 on March 18, 2024, with BTC/USD trading higher by a margin of 4% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.34 trillion in the last 24 hours.
BTC/USD is trading higher than its 20-day EMA (62,914.04), as BTC’s 24-hour volume was at around $41.2 billion. The global crypto market cap decreased by around 4.5%, trading above $2.59 trillion. BTC’s year-to-date returns are at 62.70%.
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