Bitcoin (BTC) purchasing activity increased over the weekend as momentum indicators improved. The cryptocurrency broke over the early barrier around $46,000, but heavier resistance at the 200-day moving average, which is presently at $48,289, may halt the relief rally.

Also Read| Sensex surges over 470 points while Nifty around 17,460 in early trade

On the daily chart, the relative strength index (RSI) is approaching the overbought level, which anticipated a sell-off last October. Buyers appear to be aiming for a 50% reversal of the four-month-long decline, which would result in more upside toward $50,966.

Also Read| Tata coffee shares surge over 12% on merging with Tata consumer

Momentum indications on the weekly chart have greatly improved from around the July low of $29,400. On the monthly chart, momentum is still bearish, which might postpone a substantial price rebound in the short term.

Also Read| Trending Stocks: SBI Life Insurance, Indigo, ONGC and others in news today

Bitcoin fear and greed index on Wednesday, March 30, 2022, went from the greed level of 56 to the level of 55 as per the alternative. me. The Fear and Greed index is a technique for assessing investors’ emotions toward the market.  

Also Read| Trade Setup: Top 15 things to know before market opens on March 30, 2022

Bitcoin is currently trading around $47,451.59, down 0.25%. In the last 24 hours, the highest it touched was $48,022.29 and the lowest was $46,746.21. Bitcoin has a current market cap of $901,455,509,770. It has a circulating supply of 18,997,887.00 BTC coins and a maximum supply of 21,000,000 coins.

Also Read| Stocks that should be on your watchlist on Wednesday, March 30, 2022

Robinhood crypto head ‘Christine Brown’ leaves the firm

The Robinhood executive overseeing the trading platform’s cryptocurrency initiatives, Christine Brown, is leaving the firm, Brown said in a tweet Tuesday. Brown, who spent five years at the firm, said that she would be “staying in the crypto space,” but did not specify what project she would be working on. The Block first broke the news. “I’m moving on to start something new,” Brown said, adding: “I joined RH when it was under 100 people—before we even offered a crypto product. Watching us grow through IPO and serving more than 22m users has been the greatest professional experience of my life.” “We’re so grateful to Christine for her contributions to Robinhood over the past five years – from leading our self-clearing initiative to scaling the Robinhood Crypto team,” Robinhood Chief Operating Officer Gretchen Howard told CoinDesk. “We’re excited to follow her entrepreneurial journey going forward.”

Also Read| Crypto Fear and Greed Index on Wednesday, March 30, 2022

Visa’s NFT program to assist creatives in growing their businesses

Payments giant Visa (V) unveiled a Creator Program where selected small business owners in fields like music, fashion and film will be supported in expanding their operations through the use of non-fungible tokens (NFT). “NFTs have the potential to become a powerful accelerator for the creator economy,” Cuy Sheffield, Visa’s head of crypto, said in a statement. “Through the Visa Creator Program, we want to help this new breed of small and micro businesses tap into new mediums for digital commerce.” According to Visa, the Creator Program is a one-year immersion into the world of NFTs, with support focused on technical and product mentorship, community building, access to thought leaders, exposure to Visa clients and partners, and a one-time stipend. The so-called creator economy has an estimated market size of over $100 billion, according to Visa, citing data from Influencer Marketing Hub.