Crypto Watch On March 30: Bitcoin Reaches Year-High, Surpassing $29,000 Mark

The cryptocurrency market has seen a mixed day of trading on March 30th, 2023. Bitcoin (BTC) was trading at $29,093 while Ethereum (ETH) was trading at $1,822, according to CoinMarketCap.

The market cap of the cryptocurrency market increased by 2.16% to $1,203 billion, and the spot volume rose by 19.32% to $48.03 billion in the last 24 hours. Bitcoin dominance also rose by 0.61% to 46.8%, and ETH dominance stood at 18.6%.

Source: CoinMarketCap

In terms of total liquidations, more than $134 million was liquidated in the last 24 hours, affecting 38,654 traders. The largest liquidation order took place on Bybit, worth $2.33 million.

CryptoQuant’s data suggests that BTC is likely to continue its bullish trend. It’s impressive to see how the combination of on-chain data and technical analysis, specifically Fibonacci numbers, can be so effective.

Source: CryptoQuant

The 61.8% level is often referred to as the “golden number,” and it’s fascinating to watch how these numbers are being respected by the market. In my opinion, based on this analysis, we are currently experiencing a bullish movement. This can be attributed to a significant supply profit, which is driving the market upward.

Some of the top gainers in the last 24 hours include Krypton DAO (KRD), SXP (SXP), Nexa (NEXA), DSLA Protocol (DSLA), and Coin98 (C98). The greed and fear index currently stands at 60, indicating greed among traders.

Algorand has launched a new developer toolkit, AlgoKit, to help developers transition to Web3. The AlgoKit is designed to help build Web3 applications on the Algorand protocol, a blockchain layer-1 ecosystem.

Meanwhile, the total reserves of Binance remain high despite the recent lawsuit from the CFTC. According to data from Nansen, the balance on the Binance chain is currently at $64 billion, with USDT, BTC, ETH, BUSD, and BNB being the largest holdings, accounting for around 81% of the exchange’s total balance.

Overall, the cryptocurrency market appears to be holding steady, with mixed trading in different areas. The partnership between Algorand and Binance could be a positive development for the industry, and the ongoing bullish movement of Bitcoin is certainly something to keep an eye on.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like