The total value of the cryptocurrency market rose by 0.3 percent in twenty-four hours, reaching $2.66 trillion. Bitcoin and Ethereum are trading around their previous day’s prices. While Doge and BNB are rising, Avalanche and Toncoin are falling.
Bitcoin Resistant to Rise
Bitcoin’s attempt to surpass the $71,000 level ended in failure. Institutional investors in the US and the UK refrained from trading during holidays. The range of $69,500 to $68,500 is seen as a critical support level for Bitcoin.
Bitcoin options expiring on March 29 reached a record level. The Bitcoin price is above $70,000 and is striving to exceed $71,000.
Other Crypto Developments
Bitcoin mining difficulty re-calculated with a 0.97 percent decrease. The average hash rate was measured at 593.99 EH/s. According to Bitwise, asset managers allocated three percent of their portfolios to Bitcoin, reducing concerns about ‘resetting’ with ETF success.
The Dencun update to Ethereum forms the basis for traditional financial institutions to adopt Blockchain. In addition, former FTX CEO Sam Bankman-Fried was sentenced to 25 years in prison and fined $11 billion by the court.
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