Bitcoin is holding steady above $70,000 as Asia starts trading, despite concerns about U.S. inflation and Fed rate cuts.  Pythagoras Investments suggests that Bitcoin’s resilience to inflation data indicates the market is pricing in two, not three, Fed rate cuts for 2024. Bettors on Polymarket are divided on the number of expected rate cuts by the end of 2024. Meanwhile, traders note Bitcoin‘s positive response to slower outflows from the Grayscale Bitcoin Trust, though more data is needed to determine its impact on the market. Source: CoinDesk

XRP price is currently struggling to surpass the $0.6420 resistance level. To initiate a potential bullish streak, the price needs to maintain support above $0.600 in the near term.  Currently, XRP is gradually declining and trading below $0.6120 in the market and the 100 simple moving average on the 4-hour chart.  However, there is a notable bullish trend line forming at $0.6020, which could provide support. A close below the $0.600 support level may lead to further bearish momentum. On the upside, if XRP manages to break above the resistance levels at $0.6220 and $0.6420, it has the potential for a strong upward movement.  The next significant resistance levels are anticipated near $0.610 and $0.6220. Conversely, failure to surpass the resistance zone could result in another downward move.  Initial support levels to watch are at $0.6020 and the mentioned bullish trend line, followed by a major support level at $0.580. Technical indicators such as the MACD and RSI suggest a bearish outlook, with the MACD gaining pace in the bearish zone and the RSI below the 50 level. Source: NEWSBTC

The price of Ethereum (one of the top 10 Altcoins) in the market is experiencing upward momentum and has surpassed the $3,600 resistance level. If it clears the $3,725 resistance, it could continue its upward move.  The price is currently trading above $3,650 and the 100-hourly Simple Moving Average. There is a bullish trend line forming with support at $3,480. The immediate resistance levels are $3,725 and $3,750, with further resistance at $3,800 and $3,880.  If there is a strong breakthrough, the price may rise towards the $4,000 resistance. On the downside, initial support is around $3,620, followed by the $3,500 zone and the trend line.  Further support levels are at $3,420 and $3,350, with a potential drop to $3,220. The MACD indicator shows bullish momentum, and the RSI is above the 50 level. Source: NWSBTC

The current price movement of Bitcoin hints at a potential correction in the near future. Despite showing some positive signs and trading above key levels such as $68,000 and the 100 hourly Simple Moving Average, Bitcoin needs to settle above the $70,000 resistance to continue its upward trend. A key bullish trend line is forming with support near $68,800. If Bitcoin manages to stay above the $68,000 support zone, it could start another increase. On the upside, immediate resistance is near $69,800, followed by $70,000 and $71,200. However, if Bitcoin fails to rise above the $70,000 resistance, it could trigger a downside correction. Immediate support levels to watch are $69,000 and the trend line, followed by $67,800 and $66,500. Source: NEWSBTC

Bitcoin experienced its third-strongest quarter in the past three years during Q1 2024, with a 64% surge in price. However, based on a technical analysis, analysts are warning of potential volatility ahead as the Bitcoin halving approaches. The upcoming halving, scheduled for April 20, is expected to cause significant price action. Despite the recent rise, investor sentiment regarding the short-term direction of Bitcoin’s price is neutral. Bitcoin’s price over the past twelve months. The balance remains between short and long positions in the market. Some analysts predict Bitcoin could consolidate between $60,000 and $70,000 in the coming weeks. The launch of spot Bitcoin ETFs has generated interest but may lead to a potential shift in the market narrative. Source: COINTELEGRAPH

The price of Dogecoin (one of the top 10 Altcoins) is experiencing a correction after struggling to stay above $0.225 against the US Dollar. It is currently trading above the $0.1750 support level and the 100 simple moving average (4 hours).  However, there was a break below a key bullish trend line with support at $0.2040. In order to resume its upward movement, DOGE needs to hold above the $0.1750 support level.  On the upside, it faces resistance near $0.1950, followed by $0.200 and $0.2150. If it fails to gain momentum above $0.200, there is a possibility of further downside movement with support levels at $0.1820 and $0.1750. The technical indicators suggest a bearish momentum for DOGE/USD. Source: NEWSBTC

The crypto market experienced a 1.40% decline, with a total market capitalization of $2.75 trillion. Bitcoin fell below $70,000, while Ethereum (one of the top 10 altcoins) remained above $3,500.  Fidelity Investments joined other institutions in seeking approval for an Ethereum ETF. The “Fear and Greed Index” decreased slightly, indicating extreme greed and increased buying activity in the market.  Bitcoin Cash, Dogecoin, Singularity NET, Maker, and Fetch.ai showed positive performance, while Lido DAO experienced a significant loss. The US release of economic indicators such as Final GDP, Unemployment Claims, and Pending Home Sales was expected to impact market volatility.  BlackRock’s Bitcoin ETF saw significant inflows, potentially overtaking Grayscale’s GBTC. MicroStrategy’s co-founder expressed optimism for Bitcoin trading.  Sanctions were imposed on Gaza Now and its founder for alleged financial assistance to Hamas. Coinbase’s motion to dismiss the SEC lawsuit was denied, leading to speculation about the future of the case. KuCoin announced a $10 million airdrop to address recent legal issues. Source: COINGABBAR