Bitcoin makes partial recovery after 4% drop brings price near $27.2K

2023-3-25 01:28

The price of Bitcoin fell to close $27,200 on March 25 before making a partial recovery.

Bitcoin fell to nearly $27,200

Bitcoin was valued at $27,209 at 9:40 p.m. UTC on Friday. That decline in value represented a loss of 3.9% over 24 hours and a loss of 2.5% over one hour.

However, the cryptocurrency quickly began to recover its losses. At the time of writing (10:20 p.m. UTC), Bitcoin was priced at $27,590 and was down just 2.8% over 24 hours.

Other top ten cryptocurrencies have performed similarly. Over 24 hours, Ethereum (ETH) was down 3.6%, Binance’s BNB (BNB) was down 2.4%, Ripple’s XRP (XRP) was down 5.0%, Cardano (ADA) was down 2.9%, Dogecoin (DOGE) was down 2.2%, Lido Staked Ether (STETH) was down 3.5%, and Polygon (MATIC) was down 2.5%.

The crypto market in its entirety currently has a market cap of $1.2 trillion. That amount represents a decline of 2.7% over the past 24 hours.

What caused those losses?

Various events in the crypto sector may be responsible for those losses. Most notably, Binance experienced a glitch on March 24 that briefly forced it to halt spot trading.

Elsewhere, the Federal Reserve published its decision to reject Caitlin Long’s Custodia Bank from becoming a member of the Federal Reserve system. The agency said it found “significant deficiencies” in the bank’s risk management and controls. The Fed previously declined the bank two other times this year; Long made her own comments today.

Additionally, Concerns around an SEC lawsuit against Coinbase continue to loom. The company received a Wells notice on March 22 suggesting the regulator may file charges.

Events in traditional markets could be affecting crypto prices as well. Concerns around the German financial institution Deutsche Bank caused shares to fall 8.53% today. Though not directly related to cryptocurrency, Deutsche Bank’s issues follow crypto-related bank collapses such as those of Silvergate Bank, Silicon Valley Bank, and Signature Bank.

As such, negative sentiment around that news may have spilled over into the crypto market, though it is ultimately unclear what the main cause of Bitcoin’s losses may be.

The post Bitcoin makes partial recovery after 4% drop brings price near $27.2K appeared first on CryptoSlate.

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price bitcoin recovery partial makes drop brings

price bitcoin → Результатов: 126


Bitcoin Price Holds Above $96,000 — Analyst Explains This Level’s Significance

The Bitcoin price appears to have settled within the $92,000 – $102,000 consolidation range, sparking discussions about the coin’s future trajectory. While it remains unclear whether the premier cryptocurrency has enough momentum to forge new all-time highs soon, it would take significant bearish pressure to pull down the BTC price.

2025-2-9 16:00


Bitcoin Price Struggles With Liquidity Blocks From $86,000 To $104,000, Analyst Reveals The Logical Thing To Do

The Bitcoin price has spent the majority of the past seven days consolidating around the $94,000 mark with signs of a break to either side. According to a crypto analyst, Bitcoin’s recent price movements have led to the creation of liquidity blocks observed between the $86,000 to $104,000 range, which raises an equal likelihood of a bounce towards $104,000 or a downside break to $86,000 from the current price.

2025-1-13 14:00


Bitcoin price analysis: economic headwinds push price lower

Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin’s price has fallen from a high […] The post Bitcoin price analysis: economic headwinds push price lower appeared first on CoinJournal.

2025-1-11 17:48