- #BTC (3-hour chart): Bitcoin reached a new all-time high of $73,650 on Binance. After initially breaking through $73,000, there was a minor pullback to the $69,000 trading level, which served as support for the asset. At the time of writing, buyers have pushed Bitcoin back to the resistance level around the historical high.
The On-Balance Volume line is preparing to cross the 21-day Exponential Moving Average (EMA) from below, indicating a potential continuation of the asset’s growth. Considering the short dip to $69,000, the primary scenario with a momentum move towards the resistance trend line around $75,000 – $76,000 remains valid. A local correction to the upper boundary of the Ichimoku Cloud – $65,000 – $67,000 – is expected next. The signal for the correction’s end will be Bitcoin returning above $69,000.
- #ETH: The asset pulled back to the trading mark of $3,835, where buyers regained control. Ethereum has returned above the $4,000 trading level, signaling potential for further growth.
- GameFi Sector: Digital assets related to the gaming industry have significantly increased in value over the past week. Currently, the GameFi sector’s capitalization has reached $32.5 billion, according to CoinGecko data.
The top gainers in capitalization over the last seven days are GamerCoin (#GHX) with a 253% increase, DOSE (#DOSE) at 181.1%, and Netvrk (#NETVR) with a 110% increase. A notable rise in trading volume for gaming tokens was also observed on the Bitget exchange, with a 126% increase from March 9 to 10, and a 48% increase in active traders over the week. A catalyst for the GameFi revival is the upcoming Game Developers Conference (GDC), scheduled from March 18 to 22 in Los Angeles. Updates for gaming platforms Ronin and ImmutableX are also anticipated, which could attract more users and investors to the sector, positively impacting its development. Blockchain games are expected to lead the way in growth, potentially outpacing AI projects and the broader cryptocurrency market.
- Altcoins: The proposal to add Acala token (#ACA) staking on the Binance Earn platform led to a 36% increase in #ACA (against #USDT).
The launch of derivative trading in beta mode on the Base network for Kwenta (#KWENTA) resulted in a 30% increase in #KWENTA’s value (against #USDT).
An increase in yield rates for liquid staking by the DeFi protocol GoGoPool (#GGP) led to a 26% increase in #GGP’s value (against #USDT).
- US Stock Indices: Closed Tuesday on a high note, driven by gains in technology, consumer services, and industrial sectors. At the close, the Dow Jones Industrial Average was up 0.61%, the S&P 500 gained 1.12%, and the NASDAQ Composite increased by 1.54%.
- Cryptocurrency Market Capitalization: Grew by 2.1% in the last 24 hours, while Bitcoin’s dominance decreased by 0.3%. According to K33 Research, BlackRock’s Bitcoin ETF now holds 203,756 #BTC, indicating a growing demand for this new class of financial assets.
