Gate News Update: As of March 25, the total cryptocurrency market capitalization is approximately $2.4 trillion, up only 0.12%, showing a generally stagnant trend. Ongoing US-Iran tensions have heightened risk aversion, suppressing speculative asset demand. Bitcoin remains around $70,644, while smaller altcoins like Decred are also under pressure amid the overall market downturn.
Recent news shows that the Irish Criminal Assets Bureau, in cooperation with Europol, seized 500 Bitcoin from former marijuana grower Clifton Collins on March 24, valued at about $35 million. These Bitcoins have been dormant since 2017. Meanwhile, Ark Invest bought $16.34 million worth of stock in Circle Internet Group when its share price dropped 20%, indicating an institutional buy-the-dip strategy.
On the technical side, Bitcoin’s Money Flow Index (MFI) is at 69.49, approaching the overbought threshold of 70, suggesting buying pressure since the February lows is nearly exhausted. If Bitcoin’s daily close falls below the $70,000 support level, it could short-term retreat to $68,830 or even $66,224; resistance levels are at $72,294 and $75,000.
Decred is currently trading at $20.89, down 0.57%, near the Fibonacci 2.786 extension at $20.34. In the short term, prices fluctuate between the $20.34 support and the $21.92 blue EMA line, with the red EMA at $25.31 exerting ongoing downward pressure, indicating a continued downtrend. If the daily close drops below $20.34, next support is at $19.06; a rebound above $21.92 could signal a shift to a neutral trend.
Overall, risk aversion driven by US-Iran tensions, declining institutional risk appetite, and large Bitcoin transfers have pressured the crypto market today. Short-term prices are likely to oscillate between support and resistance levels.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
GSR Debuts BESO ETF With Bitcoin, Ethereum, Solana
GSR debuts BESO ETF with active strategy, adjusting Bitcoin, Ether, and Solana allocations weekly to outperform benchmarks.
ETF records nearly $5M in first-day volume, signaling early investor interest in diversified crypto investment products.
Launch aligns with growing ETF momentum as
CryptoFrontNews4h ago
Iranian situation latest update: Control over the Strait of Hormuz is upgraded, and Bitcoin is consolidating around $77,000
On April 25, Iran once again escalated its Strait of Hormuz control measures. Bitcoin hovered around $77,500, gold was $4,709, and Brent crude was above $106. With fresh geopolitical turmoil, how will the three major assets move in tandem?
GateInstantTrends4h ago
Drivechain Architect Paul Sztorc Unveils August Bitcoin Hard Fork With 1:1 BTC Coin Split
Bitcoin developer and Drivechain architect Paul Sztorc announced a new Bitcoin hard fork called eCash, set to launch this August, giving every BTC holder an equal number of eCash coins at the time of the split.
Key Takeaways:
Paul Sztorc announced eCash, a new Bitcoin hard fork dropping in Augus
Coinpedia4h ago
Hashrate Index: Brazil and Venezuela Show Potential to Grow Latam's Bitcoin Mining Share
A new report on the state of bitcoin mining in Latam found that the region is lagging in bitcoin mining adoption, even as it holds vast energy resources. While Paraguay holds the fourth place in global hashrate, Hashrate Index picked Brazil and Venezuela as the nations to follow.
Key Takeaways:
A
Coinpedia6h ago
