On March 23, Bitcoin (BTC) price recovered the $28,000 support after a brief correction below $27,000. The movement closely tracked the traditional financial sector, particularly the tech-heavy Nasdaq Index, which gained 2.1% as Bitcoin surpassed the $28,000 threshold. On March 22, the Federal Reserve raised its benchmark interest rate by 0.25%, but hinted that it…
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Bitcoin’s (BTC) 17.5% rally between March 16 and March 22 surprised options traders betting on price levels below $26,000. The movement resulted from investors seeking protection against persistent inflation and the ongoing banking crisis. Bitcoin bulls have been paying close attention to the negative effects of near-zero interest rates between April 2020 and April 2022,…
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The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on day-to-day crypto activity. In today’s episode, crypto analyst Pechman discusses how to analyze…
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The price of Bitcoin (BTC) surpassed $28,000 on March 21, but according to two derivatives metrics, traders aren’t very ecstatic after a 36% gain in eight days. Looking beyond Bitcoin’s stellar performance, there are reasons why investors are not fully confident in further price upside The recent rescue of Credit Suisse, a 167-year-old leading Swiss…
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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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