Cryptocurrency Price on March 1: Bitcoin stable at $61,000 level; Solana, Toncoin soar up to 8%
cryptocurrency markets, major tokens were trading mixed on Friday. While Bitcoin fell 1.4% in the last 24 hours and traded at $61,349 around 11:24 am IST, other major cryptos such as Solana, Toncoin, Avalanche, Toncoin, and Litecoin soared up to 8%. The other laggards in the pack were Ethereum, BNB, and Dogecoin, which were down by up to 5.5%.
«Following its surge to $64,000, Bitcoin is now stabilizing around $61,000, prompted by a spike in liquidations. Nevertheless, Bitcoin has already set new records highs in local currencies across numerous countries, including China, Japan, the UK, India, Argentina, Turkey, Egypt, and more showing demand and resilience,» said Edul Patel, CEO of Mudrex.
With rising inflows into spot Bitcoin ETFs and the imminent halving event, the bullish trend is likely to persist, Edul said.
Also Read: Bitcoin ETF record gets broken yet again on $612 million inflow
Meanwhile, CoinDCX Research Team, said, «In the past 24 hours, the crypto market remained neutral, with both BTC and ETH experiencing slight drops of 1-2%. From a technical standpoint, BTC is exhibiting sideways movement in smaller time frames, currently below the 7-day EMA but above the 20-day EMA. Key resistance levels for BTC are observed at $65,500 and $69,000.»
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