Cryptocurrency Markets Trade Lower Despite Whale Transactions Rising

Notable Statistics: Notable Developments: Top Losers: Trader Notes: With Bitcoin prices dropping, industry expert The Moon noted that Bitcoin has dumped

Cryptocurrency markets are trading lower on March 20 despite a rise in whale transactions, according to data from OnChain.

Bitcoin (CRYPTO: BTC) is trading lower by 0.3% over the past 24 hours at $71,164.13.

Ethereum (CRYPTO: ETH) is trading down by 0.04% over the past 24 hours at $2,543.96.

Dogecoin (CRYPTO: DOGE) is trading lower by 1.1% over the past 24 hours at $0.141647.

Shiba Inu (CRYPTO: SHIB) is trading down by 0.2% over the past 24 hours at $0.00003023.

Optimism (CRYPTO: OP) is trading lower by 0.03% over the past 24 hours at $2.13.

The total cryptocurrency market volume over the past 24 hours is $113.3 billion.

Bitcoin’s ‘Golden Cross’ And Other Key Levels To Watch As BTC Pauses At $71K

Bitcoin is pausing at the $71,000 level after forming a bullish “golden cross.”

The cross occurs when the 50-day moving average crosses above the 200-day moving average on a price chart.

This technical pattern is often viewed as a bullish sign, suggesting that the uptrend in Bitcoin’s price may continue.

However, it’s important to note that technical patterns can be subjective and should not be used as the sole basis for making investment decisions.

Other technical levels to watch for Bitcoin include support at the 100-day moving average, which is currently around $65,000, and resistance at the all-time high of $64,804.

Crypto Quant Highlights Lower Retail Bitcoin Transfer Activity: What It Could Mean For BTC Price

Cryptocurrency market intelligence platform CryptoQuant highlighted that retail Bitcoin transfer activity remains low.

According to the platform, the last time Bitcoin price rallies occurred was when the daily retail transfer activity hit a low of $326 million on Sept. 21, the lowest since at least 2020.

This activity level is said to be significantly lower compared to theช่วงเวลาที่ใช้งานได้ดีที่สุด in 2021, which saw daily retail transfers reaching up to $3.5 billion.

CryptoQuant associates lower retail activity with periods of Bitcoin price rallies, while higher activity tends to coincide withช่วงเวลาที่ใช้งานได้ดีที่สุด.

However, it’s crucial to note that past performance does not guarantee future results and that a variety of factors can influence Bitcoin’s price movements.

Bitcoin Priced To Hit $80K Before 2025, SHIB Army Member Makes Bold Prediction For Doge And Shiba Tokens

A member of the SHIB army is predicting big things for both Dogecoin and Shiba Inu in the next few years.

According to the member, both meme tokens are expected to see a 100X increase, with Dogecoin reaching $1 and Shiba Inu hitting $0.001.

This prediction is based on the assumption that both tokens will continue to see strong community support and adoption.

However, it’s important to note that cryptocurrency markets are highly volatile and that such predictions should be taken with a grain of salt.

Meanwhile, crypto trader Poseidon is predicting that Bitcoin will reach $80,000 before 2025.

This prediction is based on his analysis of Bitcoin’s previous bull markets and his belief that the cryptocurrency is still in the early stages of the current bull market.

However, it’s important to note that cryptocurrency markets are highly volatile and that such predictions should be taken with a grain of salt.