There has been a significant rebound in the cryptocurrency market, with Bitcoin surpassing $70,000 for the first time in 10 days, experiencing a gain of over 6% in the past 24 hours.  Ethereum and Dogecoin (two of the 10 top altcoins) also saw upward movement. Analysts suggest that if the rally continues, Bitcoin could retest all-time highs. The global cryptocurrency market cap increased by 5.81% to $2.64 trillion.  #Bitcoin continuing the pace. Dips are there to be bought.#Bitcoin down 15-40% -> allocate funds.#Altcoins down 25-50% -> allocate funds. If $68K continues to hold, we'll sweep the highs at the all-time high pre-halving. Still expecting a peak to be happening. pic.twitter.com/Ubw1Q3HHXC — Michaël van de Poppe (@CryptoMichNL) March 25, 2024 Cryptocurrency analyst Michael Van de Poppe advises taking advantage of market dips and recommends allocating funds accordingly.  There’s discussion around the potential for Bitcoin to reach $100,000 in 2024, with attention drawn to factors such as ETF netflows and on-chain data indicating possible price movements. Source: BENZINGA

The recent movement in Bitcoin’s price in the market indicates a potential upside breakout above the $68,000 resistance level. Bitcoin saw a rise above $66,500 and $66,000, but faced resistance near $67,500 and $68,000. It’s consolidating gains near the $65,000 mark and the 100 hourly Simple Moving Average. A bullish trend line is forming with support of around $65,900. If Bitcoin clears the $68,000 resistance, it could aim for further gains towards $69,200 and $70,000. However, failure to breach $68,000 might lead to another decline. Immediate support levels are around $66,000 and $65,200, followed by $63,800. Further losses could see Bitcoin dropping toward $61,200 and $60,500. Technical analysis indicators suggest a weakening bullish momentum, although the Relative Strength Index (RSI) is above 60. Source: NEWSBTC

Six analysts have shared their forecasts regarding the potential approval of Ethereum Spot ETFs in May. The recent success of Bitcoin ETFs, which attracted significant investments, has heightened expectations for Ethereum ETFs.  Matt Hougan, Bitwise CIO, believes that approval for ETH ETFs should be straightforward, similar to the approval process for Bitcoin ETFs. Vance Spencer, co-founder of Framework Ventures, expects direct approval unless there are unforeseen reasons for rejection.  Analysts suggest that influencers like BlackRock CEO Larry Fink could help address regulators’ concerns. However, potential obstacles include the consideration of Ethereum staking by some ETF companies and the uncertain legal status of Ethereum (one of the top 10 Altcoins).  Ethereum Futures ETFs’ relative newness and lower liquidity than Bitcoin could also pose challenges. Despite these hurdles, some analysts project a 60% to 70% chance of approval in May, while others are more cautious or skeptical about approval in 2024.  The SEC‘s response to the initial spot ETH ETF application by VanEck will be crucial in determining the outcome. Source: BitcoinSistemi

Elon Musk, the CEO of Tesla, has hinted at the possibility of accepting Dogecoin (DOGE) as a form of payment for Tesla vehicles. Musk, who has been a vocal supporter of Dogecoin, made this statement during a session at Tesla’s Berlin Gigafactory in response to a question from the audience about accepting Dogecoin (one of the top 10 Altcoins) payments.  Dogecoin has shown resistance and potential for a breakout, with a 78% rally in March. It has tested a resistance level of $0.1832 since March 5, and a breakout from this consolidation could signal the start of a new uptrend. Traders and enthusiasts are closely monitoring Dogecoin’s performance in anticipation of further developments and potential price movements. Musk has previously referred to Dogecoin as the “people’s crypto” and has received requests to make it an official payment method. However, no official statement from Tesla or Musk regarding Dogecoin as a payment option has been released.  Nevertheless, Musk’s endorsement of Dogecoin has historically had a significant impact on its market performance. Following his recent comments, Dogecoin experienced a more than 10% increase in value within a short time. Source: BEINCRYPTO

According to the news by Aayush Jindal on March 13, 2024, XRP price has started a fresh rally and is trading above key resistance levels. If XRP can close above the $0.720 resistance zone, it could continue its upward movement toward $0.800 and potentially even reach $0.850. The price has already experienced a significant increase, climbing over 15% and outperforming Ethereum and Bitcoin. However, if XRP ( fails to clear the $0.720 resistance, it may face another decline, with initial support at around $0.660.  The MACD indicator is losing pace in the bullish zone, while the RSI is above 50. The major support levels are $0.6600, $0.6350, and $0.600, while the major resistance levels are $0.720, $0.7440, and $0.800. Source: NEWSBTC

The price of Solana (SOL) has broken the $150 level and is showing positive signs of further upward movement. SOL (one of the Top 10 Altcoins) started a fresh rally from the $138 support level and is now trading above $150 and the 100 simple moving average (4 hours).  There is a bullish trend line forming with support at $140 on the 4-hour chart. If the price clears the $156 and $162 resistance levels, it could continue to rally. Immediate resistance is near $156.50, followed by a major resistance near $162.50.  On the downside, initial support is at $150, with major support levels at $142 and $138. The MACD indicator is in the bullish zone, and the RSI is above 50, indicating positive momentum for SOL. Source: NEWSBTC

Bitcoin analysts are optimistic about the cryptocurrency‘s price trajectory leading up to the upcoming halving event in April 2024. Projections indicate a potential surge in value post-halving, with estimates ranging from an average peak price of $87,800 to as high as $100,000 or more. The anticipated price increase is fueled by the expected reduction in Bitcoin’s inflation rate following the halving, historically a catalyst for bullish momentum. However, analysts also acknowledge the possibility of a correction phase, with potential support levels at $52,000 and $45,000. Looking beyond 2024, some analysts forecast even more significant growth, with projections suggesting a climb to $125,000 by 2025 and $360,000 by 2030. Factors such as growing institutional interest and the potential approval of Spot Bitcoin ETFs are expected to contribute to the cryptocurrency’s value appreciation. Source: BITCOINST