The crypto market is showing a broad recovery ahead of the March 17–18 Fed meeting. Bitcoin on Monday registered a price hike of nearly four percent over the last day. At present, the most expensive asset is trading close to $74,000 and was precisely trading at $73,980 at press time. The asset price was fluctuating at the time of writing and was hitting $74,00 and then receding.
In conversation with Coin Headlines, analysts pointed out that BTC ETFs attracted $1.3 billion in March inflows. Institutional demand, last month, remained strong with Strategy holding 738,731 BTC after a recent purchase.
“For Bitcoin, a breakout above $74,000 could push Bitcoin toward $80,000. Meanwhile, capital is rotating into early-stage crypto projects while major assets consolidate,” said Sathvik Vishwanath, Co-Founder and CEO, Unocoin.
Ether price rose by over seven percent in the last 24 hours. At the time of writing, ETH was trading at $2,275, up by 13.23 percent on its seven-day average index.
“Ethereum is trading near $2,180, approaching resistance at $2,180–$2,220. A clean breakout could target $2,300–$2,450, while support around $2,050–$2,070 may defend dips. Ethereum ETFs $160 million in net inflows last week. Short liquidations and selective whale accumulation have also added momentum,” Riya Sehgal, Research Analyst, Delta Exchange told Coin Headlines.
All of the top ten cryptocurrencies roped-in profits on the price chart. BNB, XRP, Solana, and Dogecoin logged gains of up to four percent. Meanwhile, assets like Solana, Cardano, Polkadot, and Shiba Inu rose in prices within the range of seven to 11 percent.
The overall crypto market cap rose by 3.25 percent over the last day. The market cap of the sector stands at $2.52 trillion, CoinMarketCap data showed.
“Short liquidations and selective whale accumulation have also added momentum to the market. Despite ongoing geopolitical tensions and elevated oil prices, the market is showing a healthy relief bounce, signaling renewed risk appetite among traders,” Sehgal added.
According to CoinGlass, over 93,990 traders were liquidated in the last 24 hours with the total liquidations hitting $402.24 million.