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<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/bitcoin-and-crypto-market-rebound-strongly/" data-wpel-link="internal">Bitcoin and Crypto Market Rebound Strongly</a><br></p>
<p class="p1" style="text-align: justify"><a href="https://coin-turk.com/kripto-bankasi-silvergate-gonullu-tasfiyesi-piyasayi-sarsti-o-altcoinler-akin-olabilir" data-wpel-link="internal">The cryptocurrency</a> market’s total value rebounded sharply today, erasing a large portion of the previous losses. On March 21st, the crypto market value surged by 13% to $2.498 trillion after dropping to a two-week low of $2.208 trillion the day before. The leading cryptocurrencies in gains were <strong><a href="https://coin-turk.com/populer-analistten-bitcoin-fiyati-aciklamasi-bu-seviye-kartlarda" data-wpel-link="internal">Bitcoin</a></strong> and <a href="https://coin-turk.com/ripple-ve-sec-davasinda-cikar-catismasi-iddialari" data-wpel-link="internal">Ethereum</a>, which rose approximately 12.5% and 16.5% during the same period.</p> 
<h2 class="p1" style="text-align: justify" id="bitcoin-and-the-crypto-market">Bitcoin and the Crypto Market</h2> 
<p class="p1" style="text-align: justify">The recovery in the crypto market occurred in response to persistent enthusiasm for the upcoming <a href="https://en.coin-turk.com/bitcoins-future-valkyrie-investments-predicts-further-downturn-to-24000/" data-wpel-link="internal">Bitcoin</a> halving event in the ecosystem. The market maintains its optimism about Bitcoin’s upward potential before and after the halving event scheduled for April. This optimism continues despite the cryptocurrency’s 17.5% correction and a recent slowdown in inflows to spot exchange-traded funds.</p> 
<p class="p1" style="text-align: justify">For instance, Dovey Wan, the founder of investment firm Primitive Ventures, interprets the ongoing Bitcoin price decline as the second phase of a three-stage cycle related to halving events, which have historically seen Bitcoin undergo 30% to 50% corrections followed by strong upward recoveries.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-331273" src="https://coin-turk.com/wp-content/uploads/2024/03/dovey.webp" alt="" width="500" height="548"></p> 
<p class="p1" style="text-align: justify">Furthermore, Standard Chartered predicts that the Bitcoin price could rise to $150,000 by the end of 2024, partly due to increased institutional investments in spot ETF funds.</p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-futures-market">What’s Happening in the Futures Market?</h2> 
<p class="p1" style="text-align: justify">The volatility in the crypto market triggered a significant number of short position liquidations in the futures market, reaching nearly $180 million within just 24 hours. Bitcoin’s short positions led this liquidation frenzy with a total of $65.50 million, followed by <a href="https://en.coin-turk.com/shocking-claim-shib-founder-ryoshi-launches-new-altcoin-project/" data-wpel-link="internal">Ethereum</a> with $47.38 million in liquidations.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-331272 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/coinglass-2.webp" alt="" width="2528" height="850"></p> 
<p class="p1" style="text-align: justify">As noted by the crypto trading analysis platform Coinalyze, despite the challenges faced by short sellers, open interest in the crypto futures market is on the rise.</p> 
<p class="p1" style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-331271 size-full" src="https://coin-turk.com/wp-content/uploads/2024/03/kripto.webp" alt="" width="2250" height="780"></p> 
<p class="p1" style="text-align: justify">Open interest, which represents the total value of outstanding futures contracts on exchanges, is drawing attention as a factor for market activity and investor sentiment. An increase in open interest typically indicates higher market participation and positive investor sentiment.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/bitcoin-and-crypto-market-rebound-strongly/" data-wpel-link="internal">Bitcoin and Crypto Market Rebound Strongly</a></h5>

Bitcoin and Crypto Market Rebound Strongly

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