TechFlow news, on March 21, according to CoinDesk, Bitcoin and other major cryptocurrencies fell more than 3% during Friday's Asian morning trading session, in line with market expectations, primarily driven by profit-taking. Sean Dawson, Research Head at on-chain options platform derive.xyz, said: "Over the past 24 hours, the probability of Bitcoin surpassing $100,000 before June 30 has increased from 20% to nearly 30%. Meanwhile, the likelihood of Ethereum staying above $2,000 by June 30 is now even—50%, up from 40% 24 hours ago."
Alex Kuptsikevich from FxPro remains cautious, focusing on Bitcoin's $80,000 support level as a key area to watch: "The crypto market has yet to break above its 200-day moving average, currently near $2.9 trillion. A strong breakout above this level could trigger a bullish buying phase, but there’s also a risk of bears setting traps, as they’ve done several times before."
"Maintaining above this critical level is essential for Bitcoin to preserve momentum. If achieved, it could reignite investor interest in a broad range of tokens that have been consolidating for some time," he added, referring to the wider altcoin and meme coin markets.
According to Coingecko data, the current total market capitalization of the cryptocurrency market is approximately $2.85 trillion, down 3.6% over the past 24 hours.
