The total crypto market cap increased by 1.63%, ending the Thursday session at $2,466 billion. However, dogecoin (DOGE) and shiba inu (SHIB) saw further losses. DOGE fell by 0.06%, with SHIB ending the session down 5.20%. Investors continued to lock in profits after hitting highs on Tuesday (March 5).

Technical Analysis

Bitcoin Analysis

BTC hovered well above the 50-day and 200-day EMAs, sending bullish price signals.

A BTC move to the Tuesday high of $69,064 would give the bulls a run at the all-time high of $69,276 and $70,000.

BTC-spot ETF market flows and the US Jobs Report need consideration.

However, a fall below the $66,000 handle could signal a fall toward the $59,176 support level.

The 14-Daily RSI reading, 73.83, shows BTC sitting in overbought territory. Selling pressure may intensify at the Tuesday high of $69,064.