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Bitcoin increases by 30 % weekly to the 300 billion dollar bank rescue of the FED: crypto review of this week
Things change quickly in the cryptocurrency industry. The market changed completely within seven days and the mood left the anxiety zone. The overall capitalization also rose and added a whopping $ 165 billion. But what happened? Well, let's dive. The most important thing first: It is important to note that the BTC price is currently being traded over $ 26,000 and reaches highs that were last recorded nine months ago in June 2022. This represents an increase of 30 % and is due to important macroeconomic developments in the United States. Remember that ...
Bitcoin increases by 30 % weekly to the 300 billion dollar bank rescue of the FED: crypto review of this week
Things change quickly in the cryptocurrency industry. The market changed completely within seven days and the mood left the anxiety zone. The overall capitalization also rose and added a whopping $ 165 billion. But what happened? Well, let's dive.
The most important thing first: It is important to note that the BTC price is currently being traded over $ 26,000 and reaches maximum stands that were last recorded nine months ago in June 2022. This represents an increase of 30 % and is due to important macroeconomic developments in the United States.
Remember that Silicon Valley Bank-a large financial institution in the USA went bankrupt with a considerable amount of VC funds. The bank opened a hole in its balance sheet and could not patch it through a stock offer, which scared insertion, the attempted to get their money out. Within a few days, the authorities closed and many people were worried about whether they would receive their deposits at all.
The US government quickly put together a rescue plan in view of the Federal Reserve, the Ministry of Finance and the FDIC, which promised that all inserters will get well again. And although they refuse to call it a rescue operation, many claim that it is exactly that. US banks borrowed a whopping $ 300 billion when the financial markets trembled after the collapse of the SVB.
This in turn caused many investors to assume that the Federal Reserve will not further increase interest rates in order to reduce the load on the banking system. In fact, the markets are now praising the possibility of no interest rate increase in comparison to a week ago when they have an increase of 50 basis points.
This essentially indicated that the FED could even turn its monetary policy and the prices of risky assets such as BTC (and almost all other cryptocurrencies) could drive into the stratosphere.
There are many variables and we still have to see how the whole situation will develop, but at the moment the cryptoma markets are reacting incredibly positively to the news. Could it be that BTC finally fulfills its purpose as to serve as inflation protection? Or is this another speculation -driven rally?
In any case, the following weeks will be particularly important and exciting, especially since the Fed will meet on March 22nd.
market data
Market capitalization: 1175 billion $ | 24-hour band: $ 107 billion | BTC dominance: 43.7 %
Bitcoin: 26.568 USD (+30.4 %) | ETH: $ 1,725 (+20.1 %) | bnb : $ 331 (+19.7%)
The crypto headlines this week should not be missed
3 reasons why Bitcoin exploded this week to a 9-month high. Here are three possible reasons and considerations that should be taken into account why this could have happened.
what you need to know about the arbitrum Airdrop. The wait has finally come to an end. The Airdrop of Arbitrum is confirmed and Arb will be distributed to justified addresses on March 23. So you can check whether you qualify and how many tokens you get.
Who is exposed to the SVB and the signature bank? A closer look. The Silicon Valley Bank keeps money for many customers, and crypto -oriented companies are absolutely no exception. In this article we take a closer look at who exposed his money to what extent.
HSBC acquires Silicon Valley Bank UK for a pound (report). Europe's largest banking institute - HSBC - bought the British branch of Silicon Valley Bank for a pound. The deal is structured to protect investors, and HSBC will supply additional liquidity to the failing bank.
European regulatory authorities blow up the Federal Reserve for rescue action for SVB inserts. The European supervisory authorities are not happy about the decision of the Fed to save needy banks. Some said that this is an approach of "systemic risk exception".
US judge rejects the DOJ, voyager-binance.us $ 1b deal. Despite the attempts by the US government to stop the deal between Binance US and Voyager, the judge, who monitors the case, rejected the appointment of the Doj. He said this would harm Voyager customers who are waiting to receive their money.
diagrams
This week we have a chart analysis from Ethereum, Ripplecardano, Binance Coinund Polkadot - click here for full price analysis.
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