Synopsis
As of 10:53 am IST, Bitcoin was down 0.7% at $83,698, while Ethereum declined nearly 1% to $1,907. The global cryptocurrency market cap fell by 0.78%, reaching approximately $2.74 trillion over the past 24 hours.
Bitcoin (BTC) and major cryptocurrencies showed mixed trends on Monday, 17th March, as the market remained cautious ahead of key economic events. While Bitcoin, Ethereum, XRP, Solana, Dogecoin, and Cardano declined up to 4.5%, BNB, Toncoin, Hedera, Litecoin, Polkadot, and Shiba Inu posted gains of up to 5%.
As of 10:53 am IST, Bitcoin was down 0.7% at $83,698, while Ethereum slipped nearly 1% to $1,907. The global cryptocurrency market cap dropped 0.78% to approximately $2.74 trillion over the past 24 hours.
“Bitcoin continues to trade in a tight range as it approaches the $85,000 resistance level. Ethereum is following a similar trend, moving between $1,930 and $1,860, reflecting market uncertainty ahead of the Fed meeting. The RSI is hovering just above the midpoint, signaling a lack of strong momentum in either direction,” said Alankar Saxena, CTO and Co-founder of Mudrex.
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TOP COIN SETSWeb3 Tracker16.43% BuyNFT & Metaverse Tracker11.82% BuyCrypto Blue Chip – 56.71% BuyDeFi Tracker4.53% BuySmart Contract Tracker3.63% BuyTOP COINS (₹) BNB54,244 (2.65%)BuyBitcoin7,233,166 (-1.42%)BuyEthereum165,046 (-1.71%)BuyXRP204 (-2.0%)BuySolana11,155 (-5.05%)Buy”Currently at $83,200, BTC could see an upward push toward $90,000 if it breaks past $85,000 resistance, while support is at $81,200,” he added.
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View Details »CoinSwitch Markets Desk noted that Bitcoin traded within a narrow range over the weekend, fluctuating between $82,000 and just above $84,000. “The 200-day simple moving average at $84,000 remains a key resistance level, while immediate support stands at $80,000,” it said.
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Bitcoin has gained 1.6% over the past week despite persistent selling pressure from institutional investors. U.S. Bitcoin spot ETFs recorded another week of heavy net outflows, with investors withdrawing over $900 million.
Bitcoin’s market capitalization slipped to $1.66 trillion, with dominance at 60.72%. Its 24-hour trading volume dropped 80.3% to $23.21 billion, while stablecoin volumes accounted for 93.74% of total crypto trading at $61.95 billion, according to .
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Tech view by Sathvik Vishwanath, Co-Founder & CEO, Unocoin
Bitcoin remains below $85K amid $945M BTC-spot ETF outflows, marking five weeks of institutional sell-offs. Reflecting investor caution over Trump’s tariffs, recession fears, and regulatory risks. Despite this, BTC rebounded 4.33%, driven by optimism surrounding Senator Cynthia Lummis’ Bitcoin Act, which proposes US government BTC accumulation.
Technical indicators show bearish short-term signals, with BTC below the 50-day EMA but above the 200-day EMA. A breakout above $86,263 could push BTC to $90K+, while a drop below $80K risks testing March lows of $76,642.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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