In the crypto market report prepared by the ICRYPEX Research team and covering the week of March 25 – April 1, we compiled the current developments regarding crypto assets, price movements of crypto assets and macroeconomy.
You can take a look at the general flow of this report below, and access all the developments that took place in the 7-day period at Weekly Crypto Market Reports: March 25, 2024 .
Overview of March 25 Weekly Crypto Market Report
Bitcoin closed last week at $71,280 with a 6% gain in value. In addition, with its monthly closing, it achieved a monthly closing above the $ 69,000 level it tested in November 2021. Although it showed some horizontal movement during the week, we saw a weekly closing above the $ 70,000 level with a movement of over 2% on Sunday. In this process, a strong price movement was seen in FET, AGIX and OCEAN tokens, especially with the effect of the news flow.
Ethereum, on the other hand, completed last week at $ 3645 with a 5% gain in value. Ethereum, which has not been able to maintain its permanence above the $ 4000 level in the past weeks, continued its withdrawal movement and could not achieve a weekly close above the $ 3700 level.
When we evaluated the dominance, we saw that the sideways movement in Bitcoin dominance continues and there was only a 0.12% increase last week. When we examine the weekly chart, we see that the 54.30% level is an important resistance. On the Ethereum dominance side, we see that the red candles continue and there was a 0.45% decrease last week. When we examine the market value of the total crypto market, it reached the level of 2.6 trillion dollars last week. The total market value, excluding Bitcoin, reached 1.2 trillion dollars.
There was a strong price movement last week, especially in terms of news flow, with the CFTC, another major regulator in America other than the SEC, accepting Litecoin as a commodity. When we look at spot Bitcoin ETFs, we see that the outflows experienced in the past weeks have ended and the inflows have started again. Even though outflows from Grayscale continue, we see that there is a net inflow in total, especially with the high inflows from BlackRock and Fidelity.
Those who want to get more comprehensive information about the week covering March 25 – April 1 can review Weekly Crypto Market Reports: March 25, 2024.