The total crypto market capitalization increased by 26% in seven days, reaching $1.16 trillion on March 17. Bitcoin (BTC) was the biggest winner among the top 20 coins, up 31.5%, though some altcoins gained 50% or more during that period. Total crypto market cap in USD, 12-hour. Source: TradingView The surge in cryptocurrency prices occurred…
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The rejection that followed Bitcoin’s (BTC) rally to $26,500 may appear to be a victory for bears, but $24,750 on March 14 was the highest daily close in nine months. Furthermore, Bitcoin has gained 26.5% since March 10, when the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB). The recent…
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The price of Bitcoin (BTC) increased by 28% between March 12-14, reaching $26,500, its highest level since June 2022. Some may attribute the gains to the consumer price index’s (CPI) 6% year-over-year increase in February, even though the figure was in line with expectations. The inflation metric reached its lowest level since September 2021, which…
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The price of Bitcoin (BTC) increased by 14.4% between March 12-13 after it was confirmed that financial regulators had rescued depositors in the failing Silicon Valley Bank (SVB). The intraday high of $24,610 may not have lasted long, but $24,000 represents a 45% increase year-to-date. On March 12, U.S. Treasury Secretary Janet Yellen, Federal Reserve…
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Big round numbers always pique the interest of investors and the $1 trillion total crypto market capitalization is no exception. It’s a level that held for 48 days before collapsing on March 9. After a 16-hour negative 8.6% price movement, the indicator fell to $914 billion, its lowest level since Jan.13. Total crypto market cap…
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Bitcoin (BTC) traders saw continued downward pressure after the 5.5% decline in BTC price on March 7. Increased odds of further interest rate increases by the Federal Reserve and regulatory pressure in cryptocurrencies explain some of the movement. Financial markets showed signs of stress as the inverted bond curve reached its highest level since the…
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Bitcoin’s price (BTC) fell below a four-day narrow trading range near $22,400 on March 7 following comments by U.S. Federal Reserve Chair Jerome Powell as he sat before a Senate banking committee. During the congressional appearance, the Fed chairman warned that the bank is prepared to tame inflation by pushing for more significant interest rate…
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Like it or not, for crypto investors, the U.S. Federal Reserve policy on interest rate hikes and high inflation is the single most relevant measure for gauging demand for risk assets. By increasing the cost of capital, the Fed boosts the profitability of fixed-income instruments, but this is detrimental to the stock market, real estate,…
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Bitcoin (BTC) faced a 1-hour $1,420 pullback on March 3 following Silvergate Bank’s 57.7% stock crash which was due to significant losses and “suboptimal capitalization.” The U.S. fintech-friendly bank was a key financial infrastructure provider for exchanges, institutional investors and mining companies and some investors are worried that its potential demise could have wide-ranging negative…
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Cryptocurrency markets experienced a relatively calm month in February as the total market capitalization gained 4% in the period. However, the fear of regulatory pressure appears to be having an impact on volatility in March. Bulls will undoubtedly miss the technical pattern that has been guiding the total crypto market capitalization upward for the past…
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