Cryptocurrency Price on March 7: Bitcoin trades above $66,000; Shiba Inu, Dogecoin shed up to 16%
Bitcoin gained momentum in early trading on Thursday as bulls showed some signs of pulling out of their bets on the world's largest cryptocurrency. Earlier on Tuesday, it reached an all-time high of $69,202, later on Wednesday it fell to near $60,000.
The world's largest crypto token today jumped to an intraday peak of $67,637 in volatile trading, not too far from Tuesday's record high of $69,202. It was last 2.4% higher at $66,015.
The digital asset's meteoric rally — having already surged 57% for the year so far — has been fuelled by investors pouring money into U.S. spot exchange-traded crypto products and the prospect that global interest rates may fall.
«Bitcoin is consolidating near $66,000 and will likely attempt another run at $69,000 in the next few days. Once BTC hits price discovery mode, $72,000 becomes a key target level for profit taking beyond which the market may see another euphoric rally,» said Vikram Subburaj, CEO of Giottus Crypto Platform.
Meanwhile, Edul Patel, CEO of Mudrex, said, «Bitcoin surged to $66,000, rebounding from a $60,000 dip, attracting bullish interest as a buying opportunity. With support at $65,600, the focus is on breaking the $69,000 barrier, targeting the next resistance at $70,200.»
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Ethereum (ETH) also breached the $3,800 mark in Wednesday trading and rose above $3,860, its highest level since January 2022. However, it later fell to $3,727. Meanwhile, in
