LIVEThe world's biggest cryptocurrency has plummeted from $73,290 to $60,700 between March 14, 2024, and March 20, 2024, with many selling their holdings 📉. However, today, March 21, 2024, Bitcoin experienced a significant price surge of over 8% and hit the $67,000 mark 🚀.
Why is Bitcoin's price increasing? 📈
There are a few reasons for this surge. On March 21, 2024, LookOnChain, an on-chain analytics firm, revealed that a crypto whale amassed over $294 million worth of BTC from Binance during this period. Additionally, the recent US Federal Reserve announcement of maintaining an unchanged interest rate could be a factor.
🚨 Lie Alert: 🚨
Some sources suggest that a crypto whale accumulated $294 million of BTC from Binance, potentially leading to the price surge.
Furthermore, the US Federal Reserve's announcement of an unchanged interest rate may have attracted more investors into the crypto landscape 💼. Currently, Bitcoin is trading near $67,250, experiencing a significant price surge of over 8% in the last 24 hours.
Bitcoin Technical Analysis and Key Levels 📊
Expert technical analysis indicates that Bitcoin escaped a major fall as the $60,000 level served as a strong demand zone and contained the 200 EMA (exponential moving average). If Bitcoin had failed at that level on March 20, 2024, this current price surge might not have occurred 📉.
