Cryptocurrency markets are on fire again on Monday as Bitcoin (BTC) prices surged above $70,000 and dozens of altcoins recorded double-digit gains, stoking excitement among crypto traders and reigniting the Investors are worried because they are worried that they are missing out on opportunities (strategy is the main factor).
The opposite is true of the stock market. Stocks are facing opening pressure as the final week of the first quarter opens, following a quarter in which major averages hit new highs amid rising inflation.
By the close, the S&P 500, Dow Jones Industrial Average and Nasdaq were all down, down 0.31%, 0.41% and 0.27% respectively.
Bitcoin continued its gains on Monday after rising from $64,000 to $67,000 on Sunday, pushing the price of the top cryptocurrency above $71,000, according to data provided by TradingView.
To achieve the bulls’ goal, they are working to push Bitcoin price to an all-time high of $73,865 and look to push the cryptocurrency space into new and uncharted territory.
Market volatility rises
According to a report released by Kaiko Research on Monday: "Bitcoin has experienced at least two sharp price declines in the past few weeks, which are known as Bitcoin flash crashes." "These flash crashes occur differently from traditional markets. , primarily due to the low liquidity and fragmented nature of the cryptocurrency market, as well as possible manipulation attempts."
Kaiko noted that Bitcoin’s volatility is highest during the U.S. trading hours (14:00 to 21:00 UTC). However, despite this, Bitcoin’s intraday volatility, as measured by the logarithmic difference between hourly highs and lows, remains well below the peaks during the COVID-19-induced market crash or the 2021 bull run.
Kaiko noted: “It’s worth noting that the current surge in volatility follows a period of unusually low volume and volatility, making the recent moves feel more significant.” (Strategy Free Sharing Home Page)
Bitcoin has also shown resilience despite rising U.S. real yields, they added.
“U.S. real yields, as reflected in 10-year TIPS, reached an annual high of 2% last week before retreating slightly,” the report noted. “Historically, rising yields have put downward pressure on Bitcoin prices, making risky assets less attractive compared to risk-free Treasuries.”
“However, Bitcoin has shown resilience to gradually rising yields this year, rising 50% year-to-date,” they noted. “While Bitcoin has recently retreated from all-time highs, its strong performance points to other factors, such as the growth of spot ETFs. The inflow may provide support to its price.”
Kaiko added: “Interestingly, gold also tends to depreciate as yields rise, but gold has experienced a similar upward trend, suggesting that rising debt levels and geopolitical instability may help offset the impact of rising yields on The impact of both assets.”
“The current cycle is a story of re-accumulation range (green-red),” said market analyst Rekt Capital.
"One compelling possibility is that prices experience a halving at the highs, a re-accumulation. This technical shift is historically accurate," he said. "This would be consistent with a retracement occurring 28 to 14 days before the halving, and would satisfy the transition from pre-halving retracement to post-halving re-accumulation."
"If Bitcoin manages to convert its all-time high around $69,000 into a new support level, the notion of a renewed accumulation range will be invalidated as the price will be ready to expand into price discovery," he added. "However, if Bitcoin fails to convert around $69,000 into support before the halving... this re-accumulation scenario could materialize and be consistent with historical price trends around the halving."
A green surge in the altcoin market
The altcoin market was all green on Monday, with only two of the top 200 coins in the red.
Polymesh (POLYX) was the most prominent performer with a 56.4% gain and is trading at $0.61. It was followed by Reserve Rights (RSR), which rose 44%, and then Yield Guild Games (YGG), which rose 38.5%. Conversely, Conflux (CFX) was the biggest loser, down 2.5%, while WEMIX (WEMIX) fell 0.4%.
Currently, the overall market value of cryptocurrencies is US$2.68 trillion, and Bitcoin’s market share is 52.2%.
