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There are a few reasons why Bitcoin was pumped recently, but the microenvironment mainly contributed to it. Although Bitcoin is the largest cryptocurrency by market cap, the fact is that Altcoins need Bitcoin to perform. To which direction Bitcoin moves, altcoins will likely do the same, but in varying degrees.The pump’s primary reason was the fed hitting the gas paddle on quantitative easing, which introduced new money into the economy, along with a Bank term funding program which provides a backstop to the banks by providing them with loans to pay customer deposits.This gave a massive resurgence in the Fed’s balance sheet, something they have been tightening over the past six months. Their decision to “save the banks” removed half of the tightening efforts in the space of a week.<a href="https://chaindebrief.com/bitcoin-is-dominant-but-an-altcoin-rotation-is-imminent/" rel="noopener noreferrer nofollow">Find out more in our full analysis here.</a>

Is The Current Bitcoin Rally Signaling The Start Of The Next Altcoin Season?

Is The Current Bitcoin Rally Signaling The Start Of The Next Altcoin Season?

Chain Debrief

22 मार्च 2023 को प्रकाशित अन्य लेख

Australian Regulators Tell Banks to Report Crypto Exposure

Ethereum’s Next Upgrade Could Open the Floodgates for Institutions Staking

Introducing Planetarium Labs Web3 Fund

Minto Monthly Report: Feb’23

Bitcoin [BTC] Breaks Free: Will Recent Spike Leave Bear Market Behind

Wemade CEO Henry Chang gave a keynote speech at GDC 2023

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