Market picture The [cryptocurrency](https://www.fxstreet.com/cryptocurrencies) market is hitting new highs, bringing its capitalisation to $2.58 trillion (+2.4% in 24 hours).But today, bitcoin is one of the market’s laggards, up 1.2%, as growth is concentrated in the largest altcoins.Ethereum is up 5% in 24 hours, and BNB went up as much as 9%, about the same as Dogecoin.[Cardano](https://www.fxstreet.com/cryptocurrencies/news/what-is-cardano-ada-beginners-guide-202106070903) is up a modest 0.45%.Sentiment remains in extreme greed territory.
Ethereum is approaching the $4000 level, confidently making the second-largest contribution to market cap gains after Bitcoin.
A similar overbought condition in Ethereum on a weekly timeframe was not seen until 2021.
Given that this is the first such overbought condition after a prolonged bear market, be prepared for the move to continue.It’s hard to see any significant resistance until $4100.However, like BTC, ETH is well positioned to test the highs of $4700 without significant corrections.News background BlackRock’s Bitcoin ETF set a record for daily inflows of $788.3 million, while trading volume also reached a record $3.76 billion.According to SoSovalue, the total trading volume of spot bitcoin ETFs in the US exceeded $10.4 billion, surpassing that of Microsoft shares ($8.9 billion).Total assets under management reached $53.11 billion, with BlackRock’s IBIT and Fidelity’s FBTC among the top 20 most actively traded ETFs.The Arizona Senate is considering a proposal to allow cash bitcoin ETF shares to be added to state pension funds.
Bitcoin (BTC) volatility has reached its highest level since the collapse of the FTX exchange in November 2022, according to data compiled by Bloomberg.BlockFi, a lending platform undergoing bankruptcy proceedings, has reached an agreement in principle to settle claims against FTX and Alameda for $874.5 million.The funds will be used to repay customers of the service.Meme coins of celebrities with misspellings, such as Jeo Boden, Danold Tromp and Olen Mosk, caused a buying frenzy among Solana users.Interest in the segment came after improving [market sentiment](https://www.fxstreet.com/technical-analysis/sentiment), which, in general, contributed to triple-digit price increases in a week for DOGE, SHIB, BONK, PEPE, and WIF.Trade Responsibly.CFDs and Spread Betting are complex instruments and come with a high risk of losing money rapidly due to leverage.
77.37% of retail investor accounts lose money when trading CFDs and Spread Betting with this provider.The Analysts’ opinions are for informational purposes only and should not be considered as a recommendation or trading advice.[Join Telegram](https://t.me/fxstreetcrypto) Recommended Content Editors’ Picks [Ethereum restaking sees major boost ahead of Dencun Hard Fork, EigenLayer TVL surpasses $11 billion](https://www.fxstreet.com/cryptocurrencies/news/ethereum-restaking-sees-major-boost-ahead-of-dencun-hard-fork-eigenlayer-tvl-surpasses-11-billion-202403081323) [](https://www.fxstreet.com/cryptocurrencies/news/ethereum-restaking-sees-major-boost-ahead-of-dencun-hard-fork-eigenlayer-tvl-surpasses-11-billion-202403081323) Ethereum restaking protocol EigenLayer total value of locked assets climbs to $11.71 billion.
Ethereum Dencun Hard Fork, scheduled for March 13, has likely catalyzed the growth of restaking on EigenLayer.
[More Ethereum News](https://www.fxstreet.com/cryptocurrencies/news?q=&hPP=15&idx=FxsIndexPro&p=0&dFR%5BTags%5D%5B0%5D=Ethereum) [Coinbase says value of AI tokens may be overstated due to lack of demand drivers](https://www.fxstreet.com/cryptocurrencies/news/coinbase-says-value-of-ai-tokens-may-be-overstated-due-to-lack-of-demand-drivers-202403081232) [](https://www.fxstreet.com/cryptocurrencies/news/coinbase-says-value-of-ai-tokens-may-be-overstated-due-to-lack-of-demand-drivers-202403081232) Coinbase, one of the largest crypto exchanges in the world, published a market intelligence report that addresses the recent gains in Artificial Intelligence (AI) tokens like Bittensor (TAO), Akash Network (AKT), Render (RNDR), and Worldcoin (WLD).[More Coinbase News](https://www.fxstreet.com/cryptocurrencies/news?q=coinbase&hPP=15&idx=FxsIndexPro&p=0) [Injective Price Forecast: Nearing a breakout towards $55](https://www.fxstreet.com/cryptocurrencies/news/injective-price-forecast-nearing-a-breakout-towards-55-202403081107) [](https://www.fxstreet.com/cryptocurrencies/news/injective-price-forecast-nearing-a-breakout-towards-55-202403081107) Injective price edges closer to a breakout as it trades around $43.The short-term target for INJ bulls would be $51, but $55 could be reached soon.A twelve-hour candlestick close below $34.15 would invalidate the bullish thesis.[More Injective News](https://www.fxstreet.com/cryptocurrencies/news?q=Injective%20&hPP=15&idx=FxsIndexPro&p=0) [XRP price drops alongside mass profit taking by Ripple holders](https://www.fxstreet.com/cryptocurrencies/news/xrp-price-declines-as-holders-take-nearly-370-million-in-profits-ahead-of-sec-v-ripple-lawsuit-deadline-202403080601) [](https://www.fxstreet.com/cryptocurrencies/news/xrp-price-declines-as-holders-take-nearly-370-million-in-profits-ahead-of-sec-v-ripple-lawsuit-deadline-202403080601) XRP price dropped to $0.62 on Friday as holders took $368.79 million in profits in the past week.
The deadline for the SEC vs.Ripple lawsuit for the regulator’s remedies-related opening brief is March 22.[More Ripple News](https://www.fxstreet.com/cryptocurrencies/news?q=&hPP=15&idx=FxsIndexPro&p=0&dFR%5BTags%5D%5B0%5D=Ripple) [Bitcoin: BTC contemplates an increase to $100,000, but when?](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btc-contemplates-an-increase-to-100-000-but-when-202403080820) [](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btc-contemplates-an-increase-to-100-000-but-when-202403080820) Bitcoin (BTC) price shows clear signs of bullishness as it hovers around its new formed all-time high (ATH) of $69,210.Although both the fundamental and technical background are massively optimistic, investors should not be surprised if BTC takes a breather and moves sideways for the next couple of days or weeks.[Read full analysis](https://www.fxstreet.com/cryptocurrencies/news/bitcoin-weekly-forecast-btc-contemplates-an-increase-to-100-000-but-when-202403080820).
