The price of encryption today: Bitcoin risk disrupts 63 thousand dollars, PI currency by 21 % in 24 hours
Bitcoin has recovered from its lowest weekly levels less than 80,000 dollars to stabilize the level of support of $ 81,000, as the cooler inflation data brought from expected some convenience to traders.
The total number of the Crypto market increased by 3 % to $ 2.76 trillion at the time of writing this report, while market morale also improved.
Fear and greed index jumped 10 points to 24 to move from the extreme fear area.
Altcoins has seen a stronger recovery, with more than ten of the best 99 high -drawing coins, shining green on daily plans.
Why bitcoin rises
Bitcoin rose to 84,000 dollars, and gained 1 % in only 10 minutes after new inflation data showed that consumer prices are rising less than expected in February.
The most moderate consumer price index report relieved concerns about the federal reserve to keep interest rates higher for a longer period, which sparked a wave of optimism through risk assets.
Traders are now betting that the Federal Reserve may reduce its position, with price discounts that are likely to come sooner than expected.
The central bank was closely seen inflation trends, and with the cooling of basic inflation to 3.1 % from 3.3 % in January, the pressure to maintain the restriction policy may be.
For bitcoin, low interest rates may mean a stronger payment.
The Ped Dovish US dollar position usually weakens, making alternative assets like Bitcoin more attractive.
If inflation continues to decline, the markets may begin to reduce prices later this year, which may increase the bullish trend of BTC in the short term.
Will Bitcoin be disrupted again?
Despite the moderate recovery that was seen during the early Asian trading hours on Wednesday, the momentum was short -term, as the pressure pressure returned when Wall Street opened.
Bitcoin fell to $ 81,400, erasing most of its previous gains and hovering near The Daily Open.
Analysts warn that BTC has not come out of the forest yet, with some scales that hint at a deeper correction.
According to Cryptoquant, the Bitcoin Bull -be -PEAR market has achieved its most quieter levels in this session, sitting at -0.067 -the lowest level since May 2023.
Historically, similar levels have either a sharp decrease or the distinction of the beginning of the long, long trend.
Another key scale, which is MVRV, also crosses to less than 365 days moving average, and its recent movement indicates that the gathering may run out of fuel.
According to CryptoQuant, the main Bitcoin support lies between $ 75,000 and $ 78,000.
If this range fails to keep it, the price may slip more, and it may reach $ 63,000.
One of the potential stimuli of the next movement of Bitcoin is government spending, which Bitget analysts sees a short -term batch.
This is due to the US debt ceiling – the maximum legal borrowing of the government.
When the roof of the debt is suspended or raised, the government can borrow more money, increase spending and injection fresh liquidity into the economy.
According to Ryan Lee, the chief analyst at Bitget Research, this additional cash may lead to an increased demand for assets such as stocks and encryption, which helps to install the market.
With the suspension of debts that will happen shortly after the White House encryption summit, some of these liquidity may flow into digital origins.
However, this relief may be temporary. The main economic concerns – such as inflation, interest rates, and geopolitical uncertainty – still play.
Without clear decisions, no increase in the prices fed by liquidity alone, according to Lee.
Altcoin Market Balls
The Altcoin season index, which measures whether the market is in the Altcoin season based on the performance of the best 100 Altcoins against Bitcoin over the past ninety days, from 2 to 14, with 11 altcoins only in green.
A sign that Bitcoin moves continue to dictate the wider market.
Nevertheless, some short -term traders injecting liquidity into the market, prompting the total Altcoin market to increase 10 % to $ 1.1 trillion in the last check.
Publish the best winners for today, modest gains from two numbers resulting from individual developments:
PI network
Pi (PI) wore its last decline, increasing by 21 % in the past 24 hours to $ 1.64 from the time of the press.
Its ceiling on the market amounted to $ 11.75 billion, while the daily trading volume of 78 % jumped to about 772 million dollars.
source: Coinmarketcap
PI (PI) recorded strong gains today as investors put themselves before PI on March 14, which is the main thing for the PI.
Users must transfer PI minorly to Mainnet before this event to prevent losing the majority of their property with the transfer of the network from Testnet to Mainnet.
Celestia
Over the past day, Celestia gathered 13.35 % to $ 3.32, as the maximum market was sitting at $ 1.85 billion at the time of this report.
Daily trading volume reached 173.65 million dollars, while the trading bid was $ 1.1 billion of TIA symbols.
source: Coinmarketcap
Recently, Celestia and Citriea have cooperated to enable Appchains Bitcoin’s deployment with low -cost -cost data data with Bitcoin’s liquidity and security.
The development, which allows developers to build more efficient and effective applications on Bitcoin, has sparked TIA gains where investors expect to increase adoption and interest within the Bitcoin ecosystem.
story
The story (IP) has increased by 16.8 % over the past 24 hours, circulating about $ 6 upon writing.
Over the course of this period, the maximum market increased from $ 1.27 billion to approximately $ 1.47 billion, while daily trading volume reached 164.7 million dollars.
source: Coinmarketcap
Most of the gains today followed the list of the story on the exchange of Kraken on March 10, which sparked the interest of the renewed investor in Altcoin.
Altcoin also gained a force towards progress on the road map, including the last launch of the IP Public Oudi Gate on March 7.
The platform allows users to easily register their IP and browse those on any application on the story.
Post Crypto today: Bitcoin Risk is disrupted to $ 63,000, and PI Coin is 21 % in 24 hours first appeared on Invezz
