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COINTURK NEWS > Cryptocurrency News > Bitcoin Stabilizes as Altcoins Show Signs of Recovery
Cryptocurrency News

Bitcoin Stabilizes as Altcoins Show Signs of Recovery

In Brief

  • Bitcoin has stabilized, while altcoins show slight increases.

  • The fear index has improved, but Ethereum remains weak.

  • Open positions in Bitcoin futures indicate potential market changes ahead.

Ömer Ergin
Ömer Ergin 4 months ago
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Bitcoin (BTC) $108,172 has recently halted its decline and is finally showing a steady course over the weekend. During this time, altcoins have begun to experience slight increases, albeit weakly. It has been a challenging three months since mid-December, and this period is not yet over. So, what is the current situation?

Contents
Current Status of CryptocurrenciesBitcoin (BTC) Overview

Current Status of Cryptocurrencies

As of the time of writing, the total market capitalization of cryptocurrencies stands at $2.75 trillion. Daily volume has decreased by 37% from the previous day, dropping to $47.6 billion. The weekend’s lack of trading activity is palpable across the markets. Bitcoin’s dominance has slightly declined to 60.7%, while Ethereum $2,512‘s (ETH) dominance remains weak.

The fear index has slightly improved to 24, but Ether has been the week’s biggest loser with an 11.7% drop. Since ETH remains below the crucial $2,000 threshold, talking about a recovery in altcoins is challenging.

Bitcoin (BTC) Overview

Recently, we’ve discussed that the allure of the BTC CME basis trade strategy is waning. The profits here have decreased to 6.82% as of Friday. While a temporary dip is not problematic, it is crucial to stay away from new selling waves, especially since it is far from the 4.08% region on February 24.

Option volume is normalizing. We previously stated that CME open positions needed to decline to $10 billion to prevent further spot declines. On March 10, open positions decreased significantly to $11.17 billion, indicating a normalization.

On Friday, this number gradually increased back to $12.48 billion. The opening of additional positions is supportive of a potential bottom reversal, and we will continue to monitor these developments in the coming days. Following this news, the next focus will be on significant developments expected within the next week, so keeping track of upcoming events may be beneficial for your short-term strategy.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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Ömer Ergin 16 March, 2025 - 8:38 am 16 March, 2025 - 8:38 am
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