Bitcoin meets resistance at $28,000 as liquidity concerns rise

The cryptocurrency market cap saw net inflows of around $10 billion over the last 24 hours and currently stands at $1.16 trillion — up 0.16%.

During the reporting period, Bitcoin’s market cap increased by 0.88% to $540.81 billion — while Ethereum’s market cap decreased by 0.32% to $216.37 billion.

Except for Bitcoin, BNB, and XRP, other top 10 cryptocurrencies recorded losses during the reporting period. XRP saw the highest gain of 2.04%, while Polygon and Cardano posted the highest loss of 1.5% and 1.46%, respectively.

In the last 24 hours, the market cap of Tether (USDT) increased to $79.04 billion. Meanwhile, the market caps of USD Coin (USDC) and Binance USD fell to $33.84 billion and $8.01 billion, respectively.

Bitcoin

In the last 24 hours, Bitcoin increased by 0.77% to trade at $27,918 as of 07:00 ET. Its market dominance grew to 46.4% from 46.3%.

Over the weekend, BTC mostly traded above $27,000, peaking at $28,178 on March 26 before correcting to its current levels. The flagship digital asset has seen increased concerns being raised about its liquidity levels.

Ethereum

Over the last 24 hours, Ethereum fell 0.44% to trade at $1,765 as of 07:00 ET. Its market dominance fell to 18.6% from 18.7%.

During the reporting period, Ethereum topped out at $1,797 before trending down. With the Shanghai upgrade set to happen soon, investors have continued to ape into the digital asset.

Top 5 Gainers

Radicle

RAD is the day’s biggest gainer, rising 36.71% over the reporting period to $2.59 as of press time. The project is holding a vote to clarify the role of its foundation within the broader Radicle ecosystem. Its market cap stood at $126.83 million.

inSure

SURE surged 22.55% to $0.00812 during the reporting period. The token is up 220% over the past month. Its market cap stood at $217.65 million.

JOE

JOE is up 17.27% to $0.48082 as of press time. The token is up 90.8% over the past month. Its market cap stood at $161.77 million.

Kaspa

KAS gained 12.71% to trade at $0.01920 at the time of writing. Earlier today, the token reached a new all-time high of $0.01964. Its market cap stood at $336.86 million.

UMA

UMA rose 9.61% to $2.22167. Its market cap stood at $153.18 million.

Top 5 Losers

RSK Infrastructure Framework

RIF is the day’s biggest loser, falling 11.3% to trade at $0.14219 at the time of writing. It was unclear why the token was experiencing a sell-off. Its market cap stood at $135.56 million.

Gitcoin

GTC declined 10.42% to $2.14454 over the reporting period. The project has been up 16% over the last seven days. Its market cap stood at $128.49 million.

MetisDAO

METIS fell 7.05% to $24.5154 at the time of press. Its market cap stood at $109.11 million.

HEX

HEX decreased 6.29% to $0.08654. The project’s founder Richard Heart said the PulseChain could launch at any time without warning. Its market stood at $15.01 billion.

Beldex

BDX plunged 6.04% to $0.05853. The token had risen by over 58% in the last 30 days. Its market cap stood at $235.24 million.