Key Points
- Bitcoin (BTC) reclaimed $70,000, contributing to a bullish trend among top cryptocurrencies last week.
- Altcoins Shiba Inu (SHIB) and ORDI (ORDI) also experienced significant gains, riding on Bitcoin’s momentum.
The cryptocurrency market experienced a bullish trend last week, led by a surge in the price of Bitcoin.
Altcoins such as Shiba Inu and ORDI also gained significantly, buoyed by Bitcoin’s momentum.
Bitcoin’s Recovery
Bitcoin, which had previously experienced one of its worst weekly performances, managed to reclaim the $70,000 mark last week. The recovery sparked renewed investor optimism.
The largest intraday gain for the week was recorded on March 25, when Bitcoin’s price soared to $71,213. This rebound coincided with a positive shift in momentum for Bitcoin ETFs, which ended five days of outflows with net inflows of $15.7 million on the same day.
Bitcoin’s value at the time of reporting was $70,409, reflecting a weekly gain of 4.76%. Despite trading above $70,000, its daily relative strength index (RSI) remained below overbought levels, suggesting potential for further growth.
Altcoins Follow Suit
Shiba Inu also displayed a bullish performance, resulting in a four-day winning streak. Despite a mild correction, the meme-inspired token managed to maintain its position above $0.00003.
The ORDI token, inspired by Casey Rodarmor’s Ordinals Protocol, emerged as one of the standout performers last week. Despite an initial underperformance, ORDI rebounded to achieve a substantial 8.78% gain on March 30. The cryptocurrency has achieved a 10.25% increase for the week.
The global crypto market capitalization increased by 4.3% to $2.66 trillion on March 31, following an influx of $11 billion in capital.
