#write2earn Crypto Market Analysis: #Bitcoin Surges, #Altcoins Shine, and #ORDI Emerges as Top #Gainer
Last week witnessed a predominantly bullish trend among the top cryptocurrencies in the market, largely attributed to Bitcoin's price surge.
Altcoins like Shiba Inu (SHIB) and ORDI (ORDI) rode on Bitcoin's momentum, experiencing significant gains during this period.
This market upswing led to a 4.3% increase in the global crypto market capitalization, reaching $2.66 trillion by March 31, fueled by an influx of $11 billion in capital.
Let's delve into the performance analysis of some notable cryptocurrencies during this time:
Bitcoin Reclaims $70,000:
Following a challenging week, Bitcoin managed to recover from bearish pressure, reclaiming the $70,000 territory. A significant rebound occurred on March 25, with BTC reaching $71,213, marking its largest intraday gain for the week.
During this period, Bitcoin remained largely in a consolidation phase, encountering resistance at $71,754 while maintaining support at $68,362. Despite fluctuating trends, Bitcoin retained its gains, currently valued at $70,409, reflecting a weekly gain of 4.76%.
Shiba Inu's Winning Streak:
Shiba Inu continued its bullish momentum from the previous week, sustaining a four-day winning streak at the start of the week. Despite a modest increase on March 25, SHIB maintained its upward trajectory, closing above $0.00003 for the first time in 12 days on March 26.
Although encountering a mild correction, Shiba Inu remained above $0.00003, reaching a peak of $0.00003285 on March 28. Despite subsequent corrections, SHIB stands at an 8.5% increase for the week, with its current price at $0.00003048.
ORDI Among Top 24-Hour Gainers:
ORDI, inspired by Casey Rodarmor’s Ordinals Protocol, emerged as one of the standout performers last week. Despite initial underperformance, ORDI witnessed a significant rebound on March 30, securing an 8.78% gain, reaching the fourth position among the top 100 gainers.
