Bitcoin had its most risky weekend of the yr, with Bitcoin falling as little as $64,550 after hitting a brand new all-time excessive of $72,760 on Thursday, March 14th. At press time, Bitcoin has recovered to commerce round $68,300. Nevertheless, a number of value swings between 3-7% prevailed through the weekend.
Bitcoin has seen pretty regular weekend buying and selling for the reason that launch of Bitcoin ETFs within the US earlier this yr, with a lot of the volatility occurring early within the week throughout US buying and selling hours. Nevertheless, additional evaluation of weekend durations all through 2023 exhibits that flat weekends have been the development for many of 2023.
The vertical strains on the graphs above symbolize Bitcoin buying and selling Saturdays and Sundays all through 2023 and 2024. In contrast to this weekend, most weekends noticed small value swings of 2-3%. The Bitcoin Concern and Greed Index stays within the “Excessive Greed” zone, whereas falling a number of factors from final week’s highs.
Throughout the market, a sea of inexperienced signifies constructive motion over the previous 24 hours, with most remaining constructive over the previous seven days. Most notable is Solana, which has seen a dramatic 36% improve over the previous week, rising in opposition to Bitcoin and main the market.
Dogecoin, Cardano and Ethereum are the one digital belongings that haven’t recovered to close native highs over the previous seven days. Nevertheless, solely Bitcoin and BNB Chain are at present inside 20% of all-time highs.
At press time, the US market can be down roughly 2% if the worth had been to carry at present ranges over the following 16 hours.
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