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Bitcoin, prices climb in pursuit of $60,000
Bitcoin, prices climb in pursuit of $60,000
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Bitcoin, prices climb in pursuit of $60,000

By Federico Izzi - 30 Mar 2021

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The price climb continues led by Bitcoin dragging the rest of the sector. Today, 80% of the most capitalized cryptocurrencies are above parity. 

coin360 20210330
Fonte: COIN360.com

Among the top cryptocurrencies, Binance Coin (BNB) jumped up over 7% to just above $300, its highest point in three weeks.

BNB 20210330

BNB’s rise today takes it back to third place on the list of most capitalized coins, displacing Cardano (ADA) with a difference in dominance of $6 billion.

At the moment, the only thing missing to confirm the validity of the climb are the volumes, which, except for Bitcoin, continue to remain low. 

Total volume in recent days is just over $300 billion, at the low end of the average of recent weeks. 

Among the top 100 capitalized, Holo (HOT) has risen by 100%, doubling its price from yesterday’s levels. The rise is due to the approval of a patent in the United States that allows the implementation of the open source protocol that characterizes Holo. It is a patent that allows communication between nodes in the dApp network.

Filecoin (FIL) follows with +70% and Pancake Swap (CAKE) with +50%, one of the leading DeFi projects on Binance Smart Chain. 

DeFiPulse 20210330

The strengthening of prices further boosted DeFi’s total value locked to above $43.5 billion

Maker, the leading decentralized finance project, is now above $7 billion in terms of the value of its locked collateral. Compound and Aave follow, both above $5 billion. 

In decentralized finance, the growth of locked Ethereum continues and it is now just short of 10 million ETH. This is the closest peak ever to the all-time high of 9.8 billion recorded in September. In contrast, Bitcoin’s outflow continues, falling below 30,000 units, its lowest point in six months.

BTC 20210330
Bitcoin chart by Tradingview

Bitcoin (BTC) prices on the rise 

The climb in recent hours pushes the price of bitcoin above $59,000. Technically, this is a crucial level in the medium term as a consolidation of this level in the next few hours increases the chances of seeing prices over $60,000 again

On the contrary, a return of weakness with prices back in the $55,000 area would begin to frustrate the climb that began from the lows of last Thursday.

ETH 20210330
Ethereum chart by Tradingview

Ethereum (ETH)

Despite low volumes, Ethereum continues to benefit from the positive momentum with prices returning to the $1,850 area, the equilibrium point that characterized the price fluctuations in the first 20 days of March. 

It is necessary for Ethereum, besides attracting solid buying volumes again, to return above $1,900 to confirm the current price rebound that began from last Thursday’s lows. A rebound that currently marks a recovery of about 20%. 

 

Federico Izzi
Federico Izzi

Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".

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