Bitcoin (BTC) has set a new all-time high at $72,800 on Binance, according to the four-hour timeframe. The upward movement surpassed the upper Bollinger Band line, confirming buyer dominance in the current market. Data from CoinGlass indicates significant liquidity accumulation at the $73,000 to $73,500 levels over the past three days, suggesting a potential continuation of asset growth.
A trend resistance area between $75,000 and $76,000 may trigger increased selling and the beginning of a local correction. The key level to watch is $69,000; if the price consolidates above this level, a new all-time high could be expected. A potential dip to $65,000 may occur before the price reverses its trend.
For Ethereum (ETH), the ascending momentum touched the $4,095 mark, where selling pressure increased. As long as buyers maintain the $4,000 level, the next growth target for Ether is $4,300.
From March 4 to 8, cryptocurrency funds witnessed a record inflow of $2.7 billion, according to CoinShares. Over the last two months, the total investment in cryptocurrency-based financial instruments reached $10.3 billion, compared to $10.6 billion for the entire year of 2021. Bitcoin played a significant role in this increase, attracting $2.6 billion of the investment.
Interestingly, Solana, previously facing negative investor sentiment, showed positive dynamics with $24 million attracted to SOL-based funds. In contrast, Ethereum instruments saw a slight capital outflow of $2.1 million. Polkadot and Ripple attracted $2.7 million and $1.5 million, respectively.
The record capital inflow over five days indicates growing investor interest in the cryptocurrency market, with Bitcoin remaining the primary focus. The positive trends in Solana, Polkadot, and Ripple suggest investors are seeking to diversify their portfolios. The fact that cryptocurrency funds have attracted $10.3 billion since the start of the year reflects increased trust in digital assets as potentially profitable investment instruments.
Altcoins: The presentation of new game items in Star Atlas (#POLIS) led to a 48% increase in the price of #POLIS (to #USDT). News of the upcoming launch of Tether stablecoin on the Celo network (#CELO) boosted the value of #CELO by 40% (to #USDT). The listing of ECOMI’s native token (#OMI) on the Bitget exchange caused #OMI to rise by 22% (to #USDT).
The US stock market closed mixed on Monday, strengthened by sectors like commodities, telecommunications, oil, and gas, and weakened by consumer services, industry, and technology. Market participants await US inflation data set to be published today, which could influence Federal Reserve rate cut forecasts. At the close on the New York Stock Exchange, the Dow Jones increased by 0.12%, the S&P 500 decreased by 0.11%, and the NASDAQ Composite fell by 0.41%.
The overall market cap of digital assets rose by 0.95% over the past day, with the main cryptocurrency’s dominance increasing by 0.4%. Bitcoin is entering a phase of seeking a new fair price, indicating that altcoins may lose value against #BTC during the next upward impulse of the main cryptocurrency.