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Crypto Price Prediction: The cryptocurrency market witnessed a bearish start of the weekend, as Bitcoin projected a sudden pullback which plunged its price below $70000. The selling pressure spread to the altcoin market as major coins like Ethereum and XRP dropped 8-10%, while Cardano and Dogecoin dropped around 12% in the last 24 hours. The <a href="https://coingape.com/crypto-prices-today-march-15-bitcoin-crashes-to-67k-ethereum-dips-7-sol-xrp-pepe-plunge/" rel="noopener noreferrer nofollow">market downturn</a> can be associated with the expiry of over $3 billion worth of Bitcoin and Ethereum options on Friday, March 15.
As highlighted by a recent tweet by WuBlockchain, the cryptocurrency market experienced significant liquidations, totaling $576 million, with long orders constituting $448 million of this. Notably, 167,000 traders were affected, and the largest single liquidation order, valued at $13.3002 million, occurred on OKX in a BTC-USDT swap. This event highlights the market’s volatility and the high risks associated with leveraged positions.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Binance shows that Bitcoin fell below $68,000 and is now quoted at $67,788, down 7.53% in 24h. Coinglass shows that the entire network has been liquidated to $576 million in the past 24h, including $448m in long orders. 167,000 people have been liquidated. The largest single…
 — Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1768481541456548161?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 15, 2024</a>
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However, with the overall trend bullish market experts hint at a ‘buy-the-dip’ opportunity for traders.
Also Read: <a href="https://coingape.com/crypto-market-selloff-top-reasons-why-bitcoin-eth-xrp-ada-shib-crash-today/" rel="noopener noreferrer nofollow">Crypto Market Selloff: Top Reasons Why Bitcoin, ETH, XRP, ADA, SHIB Crash Today</a>
<h2 id="b-1-bitcoin-btc-b">1)Bitcoin(BTC)</h2>
<a href="https://coingape.com/spot-bitcoin-etf-cetera-approves-ibit-btco-fbtc-ezbc-for-trading/" rel="noopener noreferrer nofollow">Bitcoin</a> is the first and most well-known cryptocurrency decentralized digital currency that enables peer-to-peer transactions without the need for intermediaries. The BTC price has been notably bullish for the first half of March as market participants witnessed a jump from $59000 to $73650, registering a 24.8% gain.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/s/SrdS8TOQ.png" alt="BINANCE:BTCUSD Chart " width="1946" height="937">
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 Bitcoin(BTC)| Tradingview
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However, the recovery rally witnessed a surge in supply pressure this mid-week leading to an 8.6% drop in the last 48 hours. With a market cap of $1.3 Trillion, the <a href="https://coingape.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin price</a> trades at $67300 witnessing a new correction sentiment among traders.&nbsp;
However, a Bitcoin whale has withdrawn 800 <a href="https://coingape.com/blog/bitcoin-price-is-crashing-whats-going-on/" rel="noopener noreferrer nofollow">BTC</a> (worth $57.24M) from Kraken, adding to a total of 13,240 BTC ($909M) moved from the exchange since March 1, according to Lookonchain. This transaction the smart money sees a buy-the-dip opportunity and potential for higher recovery than the current ATH of $73750.
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 After the <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a> price dropped, the whale withdrew 800 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($57.24M) from <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kraken</a> again.
 The whale has withdrawn 13,240 <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BTC</a>($909M) from <a href="https://twitter.com/hashtag/Kraken?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Kraken</a> since Mar 1.<a href="https://t.co/4Hd54e1CmA" rel="noopener noreferrer nofollow">https://t.co/4Hd54e1CmA</a> <a href="https://t.co/IllPcyraGQ" rel="noopener noreferrer nofollow">pic.twitter.com/IllPcyraGQ</a>
 — Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1768551422185070712?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 15, 2024</a>
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As per the Fibonacci retracement level, the market traders may find suitable demand pressure at $65487, and $60350 coinciding with the 23.6% and 38.2% FIB levels.
Also Read: <a href="https://coingape.com/576-million-liquidated-as-bitcoin-btc-price-cracks-7-more-pain-ahead/" rel="noopener noreferrer nofollow">$576 Million Liquidated As Bitcoin (BTC) Price Cracks 7%, More Pain Ahead?</a>
<h2 id="strong-2-cardano-ada-strong">2)Cardano(ADA)</h2>
<a href="https://coingape.com/charles-hoskinson-eyes-lightweight-consensus-for-cardano/" rel="noopener noreferrer nofollow">Cardano (ADA)</a> is a blockchain platform known for its emphasis on security and sustainability, powered by a proof-of-stake consensus mechanism. It stands out for its rigorous, research-driven approach to development, aiming to offer more scalable, interoperable, and sustainable blockchain solutions.
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/4/46QUNd5B.png" alt="BINANCE:ADAUSDT Chart " width="1946" height="937">
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 Cardano(ADA)| Tradingview
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ADA, the native token of the Cardano ecosystem, has seen a surge in volatility in the past two where the price resonates within $0.8 and $0.68 horizontal levels. With an intraday loss of 7.75%, the <a href="https://coingape.com/price/cardano/" rel="noopener noreferrer nofollow">Cardano price</a> plunged to $0.695 teasing the bottom support of the new range.
By press time, the Cardano coin stands at a market cap of $24.5 Billion while the trading price wavers at $1.7 billion. A breakout beyond the horizontal range will be a key indication for <a href="https://coingape.com/blog/will-cardano-ada-price-recover-to-1-soon/" rel="noopener noreferrer nofollow">ADA</a> price to initiate a directional move.&nbsp;
Also Read: <a href="https://coingape.com/sponsored/cardano-ada-ascends-amid-kelexo-klxo-leading-the-new-era-with-ethereum-eth-and-filecoin-fil-in-crypto-lending-anticipating-a-30x-surge/" rel="noopener noreferrer nofollow">Cardano (ADA) Ascends Amid Kelexo (KLXO) Leading the New Era with Ethereum (ETH) and Filecoin (FIL) in Crypto Lending Anticipating a 30X Surge</a>
<h2 id="b-3-dogecoin-doge-b">3)Dogecoin (DOGE)</h2>
<a href="https://coingape.com/trending/dogecoin-price-whats-happening-with-dogecoin/" rel="noopener noreferrer nofollow">Dogecoin (DOGE)</a> started as a meme but has grown into a widely recognized cryptocurrency, admired for its vibrant community and use in tipping and charitable donations. Amid the recent meme rally in the crypto market, the DOGE price surged from a late February low of $0.081 to its recent high of $0.206, registering 151% growth.
<img decoding="async" src="https://s3.tradingview.com/snapshots/u/u4Djgajn.png" alt="BINANCE:DOGEUSDT Chart Image by sahilmahadik07">
However, the popular memecoin has witnessed heightened volatility in the past two weeks, evidenced by price consolidation between two converging trendlines. The Dogecoin’s current market cap stands at $24.47, and with an intraday price drop of 6.8%, the sellers teased a breakdown below the lower trendline.
Currently trading at $0.156, the <a href="https://coingape.com/elon-musk-eyes-to-open-dogecoin-doge-payments-for-tesla-cars/" rel="noopener noreferrer nofollow">DOGE</a> price breakdown from the triangle will plunge the asset to immediate support of $0.147, followed by $0.13.
However, in theory, the pennant pattern formed from these converging trendlines hints at a higher potential for uptrend continuation, which may uplift the <a href="https://coingape.com/price/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin price</a> to 0.27 high.&nbsp;
<h2 id="span-style-font-weight-400-takeaway-span">Takeaway</h2>
After an aggressive recovery trend, the Bitcoin price is likely witnessing a post-correction, which provides buyers an opportunity to recuperate their strength. With the overall trend strongly bullish this retracement may offer a suitable dip opportunity to potential buyers.
The post <a href="https://coingape.com/markets/crypto-price-prediction-buy-the-dip-btc-below-70k/" rel="noopener noreferrer nofollow">Crypto Price Prediction: ‘Buy The Dip’ Mood Strikes As BTC Drops Below $70k</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Crypto Price Prediction: ‘Buy The Dip’ Mood Strikes As BTC Drops Below $70k

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