BTC value remains around $66,000; ETH, Solana rise slightly

Most crypto assets experienced price volatility over the weekend following the United States’ decision not to revise or lower interest rates. Heading into the third week of March, cryptocurrency price charts look split between profitable cryptocurrencies and loss-making cryptocurrencies. On Monday, March 18, Bitcoin edged up 0.08%, trading at $66,180 (approximately Rs. 5.48 crore). The value of Bitcoin has fallen by $1,585 (roughly Rs. 1.3 lakh) since Friday.

Gadgets360’s cryptocurrency price chart on Monday showed Ethereum rising 2.63%. Ethereum is currently trading at $3,467 (approximately Rs. 2.87 lakh).

Last week, Bitcoin and Ethereum prices experienced a rollercoaster ride. While Bitcoin touched an all-time high (ATH) of over $73,118 (roughly Rs. 60.5 lakh), Ethereum was also trading at a value of $3,950 (roughly Rs. 3.27 lakh). As the United States decided not to reduce interest rate hikes, the prices of multiple crypto assets including BTC and ETH plummeted overnight.

“On the shorter timeframe, BTC would need to retrace the 50 EMA 4H to confirm a bullish trend, while ETH would have to retrace the 20 EMA 4H to confirm a continued uptrend. Notably, this week’s US federal funds rate and FOMC economic forecasts are expected to will bring volatility to the market,” the CoinDCX market team told Gadgets360.

Solana, Binance Coin, Avalanche, Dogecoin, Shiba Inu, and Polkadot all recorded profits.

Other profitable cryptocurrencies on Monday include Chainlink, Tron, Polygon, Near Protocol, Bitcoin Cash, and Uniswap.

“With just 34 days left until the next halving, Bitcoin and the crypto market are likely to experience significant changes. Solana has shown impressive strength this week and is heading towards its previous ATH of $200 (approximately $15,570 Rs),” BuyUcoin CEO Shivam Thakral told Gadgets360.

Among the cryptocurrencies in the red, Tether, Ripple, USD Coin and Cardano all posted losses.

Litecoin, Stellar, Zcash, Dash and Braintrust also posted small losses on Monday.

In the past 24 hours, the overall market capitalization of the cryptocurrency industry has increased by 2.16%. As of the time of writing this article, the cryptocurrency market is valued at $2.58 trillion (approximately Rs. 2,13,83,117 crore). coin market cap.

“Growing uncertainty about U.S. economic policy, particularly the ambiguity around interest rate cuts, has brought some uncertainty to market sentiment. However, optimists still believe this is before more wealth starts pouring in from institutional investors short-term pullback. This pullback is in line with Bitcoin’s historical pattern and is not entirely a worrying sign,” WazirX Vice President Rajagopal Menon told Gadgets360.

Cryptocurrency is an unregulated digital currency, not legal tender, and is subject to market risks. The information provided in this article is not intended and does not constitute financial advice, trading advice or any other advice or recommendation of any kind provided or endorsed by NDTV. NDTV is not responsible for any losses incurred as a result of any investment based on any perceived recommendations, predictions or any other information contained in the article.