Bitcoin Price Holds Steady as aSOPR Suggests Accumulation Phase

GOAT emerges as top gainer of the day with a surge of 25.25%

Crypto Price Today: March 15 (Coin Price Insanity)

After a day of minimal gains and a night of sideways trading, the global cryptocurrency market is displaying signs of stability. The market cap has seen a modest 0.12% increase over the last 24 hours, now standing at $2.32 trillion. However, 24-hour volume has surged by 17.69%, hitting $83.76 billion. The Fear & Greed Index has also remained unchanged, hovering at 52, indicating neutral market sentiment.

Bitcoin price holds steady as aSOPR suggests accumultaion phase

Bitcoin has seen a slight uptick of 0.36% over the past day, currently trading at $67,293.24. Despite this, 24-hour trading volume has decreased by 18.04%. However, there have been $192.31 million in inflows into Bitcoin spot ETFs, which could be signaling growing interest from the market.

Interestingly, the Adjusted Spent Output Profit Ratio (aSOPR) is indicating that Bitcoin is currently in a key accumulation phase. This often precedes a sharp price move, leaving many to speculate whether this could indicate an imminent surge or a potential correction.

Bitcoin's future price is a topic of great interest. Our Bitcoin Price Prediction has the answers you seek and more!

GOAT emerges as top gainer of the day with a surge of 25.25%

While Bitcoin may be moving slowly, other cryptocurrencies are making significant gains. Ethereum has seen a 2.28% drop, now priced at $2,552.90. This comes even as its spot ETFs recorded $1.27 million in inflows.

Solana, on the other hand, has risen by 5.17% to reach $173, continuing its upward momentum from the previous day. XRP has also registered a modest 0.20% increase to hit $0.5308, showing little movement for investors hoping for stronger signals.

If you're wondering whether the ETH price will claim the $5k mark in 2024, our Ethereum Price Prediction has the details you need!

Meme Coins and Top Movers

Memecoins are once again grabbing attention, with Popcat surging by 17.56% and GOAT leading the top gainers with a 25.25% rise. On the losing end, we have Apecoin, which tumbled by 8.64%, marking a significant downturn. Flare and Axie Infinity also followed closely behind with losses.

With the market remaining in a neutral state, the question remains: are we in the midst of a temporary pullback, or is this a deeper correction on the horizon? Investors are keeping an eye on the next move, particularly for Bitcoin, which could set the tone for the broader market.

The above is the detailed content of Bitcoin Price Holds Steady as aSOPR Suggests Accumulation Phase. For more information, please follow other related articles on the PHP Chinese website!