Crypto Market Today: Bitcoin and AI Crypto Prices Strengthen
The crypto market is showing signs of recovery with a market capitalization increasing by +15% or $320 billion in the last two days. The AI sector is strengthening with a market cap increasing by +25% in the last 24 hours.
As of the writing of this article (3/7/24), the market capitalization for the crypto market is $2.44 trillion, just around $80 billion lower than the market capitalization when Bitcoin touched ATH on Tuesday (3/5/24).
Bitcoin has experienced a recovery of +12.2% from the post-ATH low of $59,450 to the current price of $66,710. The largest altcoin, Ethereum, even briefly touched the price level of $3,900 on March 6, 2024.
Looking at the technical indicators, Bitcoin's RSI has indeed shown extreme overbought conditions in the range of 88, indicating a high probability of correction. Furthermore, $69,000 is the previous ATH level, which could allow for a retest before a breakout.
According to CoinGecko data, AI is one of the crypto sectors experiencing significant strengthening. In the last 24 hours, this sector has seen a valuation increase of +25% to $24.8 billion.
There are 146 crypto assets listed in this sector, with Bittensor (TAO) leading in valuation ($4.55 billion) with a price increase of +4% in the last 24 hours.
Render (RNDR) has experienced a significant increase, briefly reaching $10 (3/7/24). RNDR increased by +36.7% and traded at a price of $9.77.
Other popular AI tokens have also seen significant increases. Fetch.AI (FET) saw a price increase of +41.4%, and SingularityNET (AGIX) saw a rise of +36.4% in the last 24 hours.
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*Disclaimer:
This content aims to enrich reader information. Always conduct independent research and use disposable income before investing. All buying, selling, and crypto asset investment activities are the reader's responsibility.
