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COINTURK NEWS > Cryptocurrency News > Bitcoin Faces Challenges as Market Volatility Rises
Cryptocurrency News

Bitcoin Faces Challenges as Market Volatility Rises

In Brief

  • Bitcoin struggles to maintain price stability amidst rising volatility.

  • Market liquidity shows a decline, with long positions diminishing.

  • Key altcoins demonstrate resilience with gains despite the overall market challenges.

Fatih Uçar
Fatih Uçar 3 months ago
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On the first Sunday of March, Bitcoin remains steady at $85,700, while altcoins struggle to rise from their lows. This week has brought anticipated volatility, with the price moving rapidly in an undesirable direction for bulls. We are witnessing yet another period of disappointment for investors who have been waiting for years.

Contents
Bitcoin (BTC)Current Status of Cryptocurrencies

Bitcoin (BTC)

The decline below $80,000 serves as a stark reminder of the significant risks facing those expecting a price increase. Even in bullish phases following rapid growth periods, substantial losses can occur, as evidenced in 2021.

Currently, we stand on the brink of a major global trade war. The short-term inflationary effects of Trump’s policies are causing macroeconomic concerns. Additionally, we expected good news regarding the resolution of the Ukraine war in March, but discussions between Trump and the Ukrainian president suggest a prolonged process.

Bitcoin (BTC) $107,743 price is at approximately $85,700, gaining 1% for the day. However, buyers are still not showing sufficient strength, and weekend volume remains notably low. If the $78,120 level does not hold, we may anticipate a test of the $73,620 range in the coming days. As previously mentioned, there remains an unfilled CME gap in this area. Should there be closures above $87,800, we could see a renewed target of $92,000.

Current Status of Cryptocurrencies

Liquidations are stabilizing, with only half of the $213 million liquidated in the last 24 hours representing long positions. This indicates a positive trend as the market begins to cut both ways. There is no significant increase in open interest, and long positions remain weak but dominant at 50.5%. The 24-hour trading volume has dropped by 50% to $77 billion.

While the fear index has slightly recovered to 22, Bitcoin’s dominance stands steady at 60%. Among the top ten cryptocurrencies, Ether suffered the largest loss with a 20% drop. RAY has retained its position as the biggest weekly loser within the top 100, with a 50% decline.

Leading players in the Ethereum $2,664 ecosystem, such as LDO and ENS Coin, also find themselves at the top of the loss list. However, we may observe a quicker recovery in these assets if Bitcoin’s price rebounds.

Altcoins like IP, HBAR, BERA, TIA, and GRASS have pleased investors this week, escaping declines and achieving gains between 10% to 20%.

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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Fatih Uçar 2 March, 2025 - 6:45 am 2 March, 2025 - 6:45 am
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