The value of Bitcoin remains stuck around $66,000, small gains hit Ether and Solana

Most crypto assets experienced price fluctuations over the weekend after the US decided not to review or lower interest rates. Entering the third week of March, the cryptocurrency price chart looked bifurcated between profit-generating cryptocurrencies and loss-making cryptocurrencies. Bitcoin posted a small gain of 0.08% on Monday, March 18, taking its trading value to $66,180 (around Rs. 54.8 lakh). Between last Friday and today, the value of Bitcoin saw a reduction of $1,585 (around Rs. 1.30 lakh).

Ether the value of Gadgets360 increased by 2.63%. cryptocurrency price chart shown on Monday. Ether is currently trading at $3,467 (approximately Rs. 2.87 lakh).

Last week, Bitcoin and Ether witnessed a roller coaster ride in terms of price. While Bitcoin touched a new all-time high (ATH) of over $73,118 (around Rs. 60.5 lakh), Ether’s trading value also reached $3,950 (around Rs. 3.27 lakh). Following the US decision not to reduce interest rate hikes, the prices of several crypto assets, including BTC and ETH, plummeted overnight.

“In the shorter timeframe, BTC must recover the 50 4H EMA for a confirmation of the uptrend, while ETH must recover the 20 4H EMA for continued confirmation of the uptrend. In particular, this week’s US federal funds rate and FOMC economic projections are expected to bring volatility to the market,” the CoinDCX markets team told Gadgets360.

Solana, Binance coin, Avalanche, Dogemoneta, Shiba InuAND Polka dot recorded profits.

Other profitable cryptocurrencies on Monday include Chain shirt, Tron, Polygon, Close to the protocol, Bitcoin CashAND Uniswap.

“With just 34 days until the next halving, Bitcoin and the cryptocurrency market could undergo significant changes. Solana has shown impressive strength throughout the week and is on track to reach its previous ATH above $200 (around Rs. 15,570),” Shivam Thakral, CEO of BuyUcoin, told Gadgets360.

Among the losing cryptocurrencies, Bind, Ripple, Currency in USDAND Cardano losses recorded.

Litecoin, Stellar, Zcash, DashAND Brain trust also posted small losses on Monday.

The overall market capitalization of the cryptocurrency sector increased by 2.16% in the last 24 hours. The valuation of the cryptocurrency market, at the time of writing this article, stood at $2.58 trillion (approximately Rs. 2,13,83,117 crore) according to CoinMarketCap.

“Growing uncertainty surrounding US economic policies, particularly ambiguity over interest rate cuts, has caused some uncertainty in market sentiment. However, optimists continue to see this as a short-term pullback before more wealth from institutional investors begins to flow. The retracement is in line with Bitcoin’s historical patterns and is not exactly an alarming sign,” Rajagopal Menon, vice president of WazirX, told Gadgets360.

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