Bitcoin, Ethereum, Dogecoin Register Little Change Amid Bullish Momentum: Analyst Says $160K Could Be A ‘Conservative’ Price Target For King Crypto

Bitcoin and Ethereum registered little price movement on Tuesday as the apex cryptocurrency maintained its momentum.

Cryptocurrency Gains +/- Price (Recorded 12:00 a.m. EDT)
Bitcoin (CRYPTO: BTC) +0.10% $70,328
Ethereum (CRYPTO: ETH) -0.13% $3,604
Dogecoin (CRYPTO: DOGE) +2.91% $0.18


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What Happened: Bitcoin is currently priced at $70,328. If it reaches $71,000, CoinGlass data shows that $156.18 million in short positions will be liquidated. Furthermore, a climb to $75,000 will result in the liquidation of $3.85 billion in short positions.

In the last 24 hours, a total of 70,225 traders were liquidated, resulting in a total of $179.83 million in liquidations. The largest single liquidation order occurred on OKX – BTC-USDT-SWAP, with a value of $1.56 million.

Top Gainer (24 Hour)

Cryptocurrency Gains +/- Price (Recorded 12:00 a.m. EDT)
Dogwifhat (CRYPTO: WIF) +20.40 $3.28
Sui (CRYPTO: SUI) +12.80% $1.97  
Shiba Inu (CRYPTO: SHIB) +8.59% $0.00003149

The global cryptocurrency market cap now stands at $2.66 trillion, showing a 0.16%  increase in the past 24 hours.

The S&P 500 dropped for the third consecutive day on Tuesday, decreasing by 0.28% to conclude at 5,203.58. Similarly, the Nasdaq Composite experienced a 0.42% decline, ending at 16,315.70. The Dow Jones Industrial Average also dipped by 31.31 points, or 0.08%, settling at 39,282.33. 

On Tuesday, economic data produced mixed results, with durable goods orders surpassing expectations, while consumer confidence showed a decline.

Investors are anticipating the upcoming personal consumption expenditures report on Friday, along with statements from Federal Reserve Chairman Jerome Powell. Median forecasts suggest a 2.8% increase in core PCE, the Fed’s preferred inflation measure.

Bitcoin Breaks Out New ATH Ahead?

The leading cryptocurrency broke key resistance. A green light for bulls. Gianni di Poce shares his thoughts in this week’s Insider Report. Click Here to Grab a Copy for Just $0.99!

Notably, markets will be closed for Good Friday, preventing investors from acting on the news that day.

See More: Best Cryptocurrency Scanners

Analyst Notes: Cryptocurrency analyst Michael Van de Poppe reports that Bitcoin has been performing well, currently approaching the first resistance. “Expecting consolidation to continue, one more test of ATH pre-halving and then we’re finalizing this run for Bitcoin. Altcoins to do well!”

Pseudonymous analyst Dave the Wave said Bitcoin’s price trajectory from 2020 suggests that the cryptocurrency could reach $160,000 before May and keep rising.

“A BTC $160,000 target, should we see a continued parabolic run, is actually quite conservative on this comparison.”

According to on-chain analyst Ali Martinez, it seems like Bitcoin is breaking out of an ascending triangle on the lower time frames. “…which could see $BTC rise toward $71,800 as long as the $70,400 support holds.”

Photo by CMP_NZ on Shutterstock

Read Next: Jim Cramer Advises Against Using Binance, Provokes Strong Reactions From Twitter Users

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