Bitcoin

<ul><li>Bitcoin price climbed about 27% in the last seven days.</li><li>BTC trading in rage between $27K to $28K.</li></ul>The largest cryptocurrency market player, Bitcoin (BTC), <a href="https://thenewscrypto.com/tag/bitcoin/" rel="noopener noreferrer nofollow">started to outperform the market</a> as a result of the failure of major banks like Silicon Valley Bank and Credit Suisse, which affected confidence in traditional financial institutions. Also, Bitcoin’s double-digit surge this year has surprised the crypto community.BTC began mid-March with super hikes, and its price climbed by over 33% from $19K to $29K in just 14 days. Bitcoin witnessed a strong weekly close that keeps $30,000 out of reach. Also, the market leader crossed the 50-week moving average, indicating a buy signal, as per Tradingview.<h3 id="bitcoin-s-price-line">Bitcoin’s Price Line</h3>Bloomberg Intelligence believes that the <a href="https://thenewscrypto.com/tag/federal-reserve/" rel="noopener noreferrer nofollow">banking crisis</a> may be the “catalyst” for the next cryptocurrency bull run, in which Bitcoin is likely to beat all other cryptocurrencies. As the global crypto market looks for a new direction and crypto prices skyrocket, that lead is capped at $1.16 trillion.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/0d730412aa3d4b4ca5d1791c98fe8854.jpeg" />Bitcoin (BTC) Price Chart (Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>)It all occurred due to the Bitcoin price changes, which have surged over 70% year to date, and 27% in a week. Also, the Bitcoin Fear &amp; Greed Index is in “greed,” with a score of 64 out of 100. At the time of writing, Bitcoin traded at $27,972, with a 24H trading volume of $14  billion, which rose around 10%. According to CoinMarketCap, the market leader has a market cap of $539 billion and 46% of the market share.Further, the <a href="https://thenewscrypto.com/tag/ethereum/" rel="noopener noreferrer nofollow">second largest cryptocurrency, Ethereum</a> (ETH), climbed to the $1.8K range. Also, other altcoins such as BNB, MATIC, ADA, and memecoins SHIB and DOGE witnessed significant price surges. But still, the global crypto market is at a volatile stage.

Bitcoin (BTC) Outperforms the Global Market

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TheNewsCrypto

Andre artikler udgivet 27. mar. 2023

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