Crypto Price Today: Bitcoin Holds Value Above $63,000 Over Weekend, Loss Hits SOL, USDT

Bitcoin, in the last two weeks, has shown an unprecedented rally in its price due to massive inflows into BTC ETFs. Entering the first week of March, Bitcoin’s rally appears to be affecting all other cryptocurrencies. Bitcoin recorded a profit of 2.27% on Monday, March 4th. The asset is trading at a price of $63,485 (approximately Rs. 52.6 lakh). Over the past week, Bitcoin’s value has increased by $1,740 (around Rs. 1.44 lakh).

“There has been a 23% increase in the last seven days and an impressive 45% increase in the last 30 days. According to IntoTheBlock, 97% of all Bitcoin addresses are currently in a profitable state, for the first time in over two years. This surge is attributed to the growing mainstream acceptance of Bitcoin spot ETFs and the upcoming Bitcoin Halving event. BTC is targeting the $67,150 (around Rs. 55.6 lakh) resistance level and a successful breach this week could indicate the possibility of a new all-time high,” Edul Patel, CEO of Mudrex, told Gadgets360.

Ether it grew by 1.36% in the last 24 hours. At the time of writing, the value of ETH stood at $3,473 (approximately Rs. 2.87 lakh). Over the past week, ETH has managed to maintain its price near the $3,400 mark (around Rs. 2.80 lakh).

“For ETH, you need to break and sustain above $3,500 (around Rs. 2.90 lakh) to target $3,830 (around Rs. 3.17%) and $3,965 (around Rs. 3.28 lakh),” the CoinDCX market desk told Gadgets360.

Among other cryptocurrencies that have recorded profits, Binance coin, Currency in USD, Cardano, Dogemoneta, Shiba InuAND Polka dot they wrote down their names.

Cosmos, Close to the protocol, QtumAND Brain trust also recorded smaller gains.

The overall market capitalization of the cryptocurrency sector stands at $2.38 trillion (around Rs 1,97,27,808 crore) after recording a spike of 1.55% in the last 24 hours, as per CoinMarketCap.

Several other cryptocurrencies recorded losses on the cryptocurrency chart despite BTC’s rally. Bind, Solana, Ripple, Avalanche, Chain shirt, PolygonAND Uniswap losses recorded.

“This week could see increased volatility due to several macro events such as US job openings, change in US nonfarm employment, and US unemployment rate, which could further impact in the market,” the CoinDCX research team told Gadgets360.

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