Bitcoin price growth improves at the beginning of the week

  • March 25, 2024
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After a few days of minor losses and stagnant movements, the Bitcoin price growth trajectory went upward again, sending optimistic crypto market signals for the week ahead.

Traders witnessed positive crypto market signals early in the week as Bitcoin went through a price breakout. Over the weekend, it had traded in a narrow range, facing stiff resistance at around $66,000. In the early hours of March 25, it registered sudden gains and crossed $67,000. The Bitcoin price growth trajectory, as a result, went upward. If the current momentum continues, its range could reach even $70,000 this week.

The bullish weekly open prices could also impact other altcoins. Following Bitcoin’s movements, tokens like SOL, XRP, and DOGE have already turned green. DOGE and TON have also seen significant weekly returns, at 14% and 27%, respectively. Moreover, the global crypto market cap has seen a turnaround and is on an upward curve again.

The other important factor that could impact the crypto market signals this week is the inflows in the spot Bitcoin ETFs. The BlackRock ETF, which currently holds 238,500 BTC, could also surpass the Grayscale Bitcoin Trust’s holdings. Grayscale had seen increasing outflows earlier, but BlackRock’s inflows steadily rose.

Bitcoin’s gap with its 20-day moving average has narrowed. If BTC’s price widens it and moves ahead of $70,000 this week, traders could expect a new all-time high.

BTC/USD 1D price chart

Bitcoin is currently trading at around $67,200 on March 25, 2024, with BTC/USD higher by a margin of 4.6% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.32 trillion in the last 24 hours.

BTC/USD is trading higher than its 20-day EMA (66,188.85), as BTC’s 24-hour volume was at around $28.4 billion. The global crypto market cap increased by around 4.51%, trading above $2.55 trillion. BTC’s year-to-date returns are at 60.22%.

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