Bitcoin, Ethereum, Dogecoin Rise As White House Official Hints At Gold-Powered BTC Purchases: Analyst Says Watch Out For These Key BTC Levels

Benzinga03-24

Leading cryptocurrencies gained Sunday amid hints the U.S. government would use gold reserves to fund Bitcoin purchases. CryptocurrencyGains +/-Price (Recorded at 8:30 p.m. ET)Bitcoin BTC/USD+2.66%$86...

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While Bitcoin has gained 1.94% since the month began, its younger sibling has plunged over 10%. \nAdditionally, Bitcoin's market dominance has remained at 60%, while Ethereum's share has shrunk from 9.4% to 8.6%.\nThe spike resulted in the liquidation of $143 million from the cryptocurrency market in the past 24 hours, with short liquidations accounting for $91 million.\nBitcoin's Open Interest surged 5.43% in the last 24 hours. Interestingly, the majority of futures traders were positioned short as of this writing, according to the Long/Short ratio, suggesting that a pullback might be in the works.\nThe market sentiment remained in the \"Fear\" region, according to the Crypto Fear and Greed Index.\nTop Gainers (24-Hours)\nCryptocurrencyGains +/-Price (Recorded at 8:30 p.m. ET)Fartcoin (FARTCOIN)+24.45%$0.5551Bonk (BONK)+11.34%$0.00001353Four (FORM)+9.12%$1.96\nThe global cryptocurrency market capitalization stood at $2.81 trillion, following an increase of  1.95% over the previous day.\nStock futures edged higher in Sunday overnight trading. The Dow Jones Industrial Average Futures rose 190 points, or 0.45%, as of 8:39 p.m. EDT.  Futures tied to the S&P 500 gained 0.62%, while Nasdaq 100 Futures added 0.78%.\nThe rally followed a positive week for stocks, with the Dow and the S&P 500 gaining 0.77% and 0.079%, respectively, amid anxiety over a potential economic slowdown triggered by President Donald Trump’s tariff policies.\nThe rally followed a winning week for stocks, with the Dow Jones Industrial Average dipped 11.31 points, or 0.03%, to close at 41,953.32. The S&P 500 fell 0.22% lower at 5,675.29. The tech-focused Nasdaq Composite slid 0.33%, ending at 17,691.63.\nSee More: Best Cryptocurrency Scanners\nAnalyst Notes: Influential cryptocurrency analyst and trader Ali Martinez pointed out areas of interest on Bitcoin's price chart. \n\"Support from $82,590 to $85,150, where 1.16 million investors bought 625,000 BTC,\" Martinez highlighted. \nHe also drew attention to the key resistance level between $95,400 and $97,970, where 1.77 million investors bought 1.44 million BTC.\n\nKey levels to watch for #Bitcoin:– Support from $82,590 to $85,150, where 1.16 million investors bought 625,000 #BTC.– Resistance from $95,400 to $97,970, where 1.77 million investors bought 1.44 million $BTC. pic.twitter.com/CPPgKuDfOm— Ali (@ali_charts) March 23, 2025\n\nAnother well-known trader, Crypto Feras, stated that Ethereum must retake $2150 as support; otherwise, the recent spike would be considered a bearish retest.\n\"A successful reclaim can ultra send it towards $2.8 and $4k as well, but it needs to happen first. Otherwise, $1539 is next,\" the trader predicted.\n\n#Etherum $ETH needs to reclaim 2150$ area as a support again, otherwise we are just heading towards another bearish retest.a successful reclaim can ultra send it towards 2.8 & 4k as well. but it needs to happen first, otherwise 1539$ is next$ethusd #ethusdt #Altcoins pic.twitter.com/9VAyYw9WAN— Crypto Feras  (@CryptoFeras) March 24, 2025\n\nPhoto by Avi Rozen on Shutterstock\nRead Next:    \n\nCrypto Community Buzzes as $250 Million Bitcoin Whale Returns from Hibernation, Is It A Good Sign?\n BTCGrayscale Bitcoin Mini Trust (BTC) Common units of fractional undivided beneficial interest$37.10-0.56%Stock Score Locked: Want to See it?Benzinga Rankings give you vital metrics on any stock – anytime.Reveal Full ScoreEdge RankingsMomentum-Growth-Quality-Value-Price TrendShortMediumLongOverview$BTCBitcoin$85550.01-0.61%$DOGEDogecoin$0.1708-1.04%$ETHEthereum$1980.09-1.29%Market News and Data brought to you by Benzinga APIs© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.35.12","shortVersion":"4.35.12","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2521018737","isCrawlerRequest":true}