Bitcoin exchange rate fell by $1.6 thousand after renewal of local high

Bitcoin exchange rate fell by $1.6 thousand after renewal of local high

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Author: Robert Strickland (crypto expert)
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Bitcoin exchange rate fell by $1.6 thousand after renewal of local high
Bitcoin exchange rate fell by $1.6 thousand after updating the local high above $26 thousand on March 14
The value of the first cryptocurrency fell below $25 thousand, nevertheless showing the daily growth of 1.5%

Bitcoin rate fell by $1.6 thousand after updating the local maximum. On March 14, the price of the asset reached $26.5 thousand for the first time since June 13, after which it fell below $25 thousand. According to CoinGecko, at 9:30 NY time, the first cryptocurrency is trading at $24.8 thousand. The daily price growth was 1.5% and BTC added 14% over the month.

Bitcoin's market capitalization is $479 billion, with a daily trading volume of $70.3 billion. The share of asset on the market is 42%.

Rates of leading altcoins also show a slight daily increase. Ethereum (ETH) gained 1.3% to $1.70, Ripple (XRP) gained 1% to $0.374, Polygon (MATIC) gained 2.4% to $1.21 and Solana (SOL) gained 3.5% to $21.18.

During the day, 75,200 traders' positions totaling $296 million were liquidated on crypto exchanges, 57% of which were short, according to Coinglass. Orders with bitcoin accounted for $142 million, with Ethereum - $68.7 million. The largest forced position closing occurred on the Bitmex exchange in the pair ETH/USD - for $10 million.

The Fear and Greed Index is at 50 points, indicating neutral sentiment in the cryptocurrency market: players are not inclined to actively sell or buy digital currencies right now.

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