Bitcoin Maintains $30K as Altcoins Consolidate (Market Watch)

source : cryptopotato.com

https://cryptopotato.com/wp-content/uploads/2021/03/bitcoing_green_cover.jpg

Bitcoin bulls did their best to hold the important psychological level of $30K. This happens on the back of a broader consolidation across the entire market as most of the altcoins are trading flat over the past 24 hours.

Bitcoin’s Price Maintains $30K

Yesterday, Bitcoin’s price dipped below $30K for a brief period of time, but the bulls were very quick to defend the level and brought it back above it in a few hours, as seen on the chart below:

img1_btcchart
Source: Binance, powered by TradingView

At the time of this writing, the cryptocurrency is charting a daily increase of around $1.8%. The market seems to have calmed down a bit today, but the liquidations for the past 24 hours remain relatively high at above $200 million, according to data from Coinglass.

Leading the way is Bitcoin, with around $133 million worth of liquidated positions. The largest single liquidation order took place on Bybit – a BTC/USD order with a face value of $3 million.

Altcoins in Consolidation Mode

The altcoin market seems to be in consolidation mode, albeit painted almost entirely in green. Most of the large-cap cryptocurrencies remained flat for the past 24 hours, with a few slight exceptions.

img2_quantifycrypto
Source: Quantify Crypto

As seen in the above heatmap, the altcoin market failed to produce any meaningful gains, but on the other hand – it stopped bleeding as well, which could be interpreted as a good sign.

Yet, the cryptocurrency fear and greed index once again dropped towards the 10 basis points indicating “extreme fear” after having bounced a bit over the last few days.

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Leave a Reply

Your email address will not be published.