Cryptocurrencies Price Prediction: Ethereum, Bitcoin & Crypto – European Wrap 25 March
|Ethereum price crumbles as Ether supply on exchanges climbs to one-year high
Ethereum (ETH) price could be poised for a further correction in the short-term as the altcoin’s supply on exchanges, an indicator that provides clues over the selling pressure on an asset, has hit a one-year peak on Monday, according to on-chain data. Despite trading in a narrow range recently, the value of the second-largest cryptocurrency remains nearly 16% below its March 12 peak of $4,093.92.
Inflows from Bitcoin ETFs may weaken halving effect, says Glassnode amid price correction
Bitcoin (BTC) spot ETF approval on January 10 gave a boost to its price and that of the general crypto market, sending the largest cryptocurrency to a new all-time high. While these ETFs have boosted the crypto market ahead of the upcoming bitcoin halving, a new report from Glassnode suggests that traders must adjust their strategies and exercise caution because the usual pattern during halving events, based on price rallies afterwards, may not hold this time.
The crypto market comes to life
The crypto market cap rose 4.5% over 24 hours to $2.56 trillion, roughly where it was a week ago, with an active rally over the last three days.
Bitcoin is up 4.7%, and Ethereum is up 4.3% in 24 hours. Their momentum has encouraged even more robust growth in smaller coins. Dogecoin is up 15% in 24 hours and 100% in 30 days, Solana is up +9.5% and 86%, and BNB remains stronger at +6.7% and 54% respectively.
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