Bitcoin increases over $ 26,000 due to the 300 billion dollar injection of the Fed in US banks (Market Watch)

Bitcoin increases over $ 26,000 due to the 300 billion dollar injection of the Fed in US banks (Market Watch)

Bitcoin scored around 2,000 dollars on one day when the US Federal Reserve announced that the US banks, including the Silicon Valley Bank and Signature Bank, to borrow $ 300 billion.

The old coins also grew green today, with ETH reclaimed $ 1,700, while BNB, Matic, Doge and Dot have increased by over 5 %.

BTC increases over $ 26,000

Within a week, a lot can change in the cryptocurrency room, and the last seven days are a prominent example. Last Friday, Bitcoin fought in the middle of the growing bank problems with several organizations associated with the industry to stay over $ 20,000.

After a relatively quiet weekend, on the BTC at around $ 20,500, the asset went on a downturn in the following days.

It initially rose over $ 22,000 before a few more leg-ups drove it to $ 26,500 on Tuesday. This has been the highest price since June 2022. The bears were finally used and pushed the cryptocurrency south. As a result, Bitcoin slipped to $ 2,000 on Wednesday.

The US Federal Reserve said, however, that it awarded $ 300 billion to support a few US banks. Over $ 140 billion went to Signature Bank and SVB.

This had a profound effect on the price development of BTC when the asset exploded by another huge and reclaimed $ 26,000. From now on it is also being traded there, which increased its market capitalization to over $ 500 billion. Its dominance over the alts also continues and has reached 45 %.

BTCUSD. Tradingview

alts in the green

Numerous old coins suffered yesterday, but today the landscape looks completely different. Ethereum recovered over $ 1,700 after a daily increase of 4 %. Binance Coin is well over $ 330 after it has increased by over 5 % in the last 24 hours.

Matic, Dogecoin, Polkadot and Avalanche have similar increases. Cardano, Solana, Shiba Inu, Ripple and Litecoin are also in the green, albeit with more modest winnings.

StX has increased most of the mid-cap alternatives (19 %). As a result, the asset has increased over $ 1.

Overall, the crypto market capitalization rose by $ 50 billion in one day. This helped the metric to recapture the coveted line of $ 1.1 trillion.

Overview of the cryptocurrency market. Quantify crypto