Bitcoin Financial News

Bitcoin climbed to a nine-month high on Monday as turmoil in the banking sector drives some investors to turn to digital assets, as the cryptocurrency built on its best week in four years. The biggest cryptocurrency rose as far as $28,567, its highest since mid-June, and was last up 0.9%, amid growing expectations that central banks would slow the pace of interest rate hikes. Bitcoin rose 26% last week, its best weekly gain since April 2019, and has soared some 40% in 10 days as turmoil in the banking sector rippled around the globe — culminating, so far, in UBS Group's takeover of rival Credit Suisse Group AG over the weekend. Traditional assets such as banking stocks and bonds plummeted on Monday after UBS sealed its state-backed takeover of Credit Suisse, a deal orchestrated in an attempt to restore confidence in a battered sector.

Despite the inherent volatility of the cryptocurrency market, Bitcoin (BTC), the renowned digital currency, has managed to maintain its upward trajectory and continues to trade at above $28k. This is a notable accomplishment for Bitcoin, which has faced significant challenges in recent months due to an extended bearish trend. 

Stacks [STX] , known as the Bitcoin [BTC] layer for smart contracts, announced its activation of the 2.1 version on 19 March. In December 2022, the project had upgraded to 2.05, whose goal was to shorten the runtime of a full block creation on the network. 

Popular crypto analyst Adam Cochran recently took to Twitter to share his disagreement with former Coinbase exec Balaji Srinivasan’s bold prediction for Bitcoin [BTC].

Following its decision to integrate Bitcoin [BTC] into its network for additional security, Osmosis’ co-founder in a tweet on 19 March confirmed that the foundation has converted more than 10% of the cash in treasury into Bitcoin.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Bitcoin’s correlation to US equity markets just fell to its lowest level in more than a year and a half. That’s according to crypto analytics firm CoinMetrics, who present a chart showing that Bitcoin’s 30-day pearson correlation between Bitcoin and the S&P 500 just fell under 0.20, its lowest level since September 2021.

The Crypto Fear and Greed Index has hit its highest index score this year, reaching levels not seen since Bitcoin (BTC) posted its all-time high in November 2021.

The exchange rate between Bitcoin (BTC), the world’s first and largest cryptocurrency by market capitalization, and Ether (ETH), the world’s second-largest cryptocurrency by market capitalization that powers the Ethereum blockchain, has fallen rapidly in recent weeks.

Bitcoin, the world's most renowned and largest cryptocurrency, has sustained its recent upward trajectory, surging to $28,527 on Monday morning. Within the last 24 hours, BTC has risen by over 4%, and in the past week, it has gained over 28%, solidifying its status as one of the top-performing assets in the market.

The cryptocurrency market experienced a sudden surge in value over the last week, after an extended rough period. The current turmoil in the bank sector appears to have given a boost to the crypto market, especially Bitcoin, as some investors opt for digital assets for diversification.

The takeover of the ailing Credit Suisse bank by UBS boosted European equity markets on March 20 but not everyone is happy with the deal. According to Swiss regulator FINMA, the value of additional tier one (AT1) bonds will be written to zero. This move will wipe out $17 billion worth of investments for AT1 bond investors.

Scott Melker, commonly known in the crypto space as “The Wolf of All Streets,” tells the story of how he went from performing very poorly trading stocks and mutual funds to becoming one of the most-followed crypto analysts in the industry. 

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 financial institution, is proof that the current global banking crisis might not be over.

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On 20 March, entrepreneur Anthony Pompliano “Pomp” invited Real Vision CEO Raoul Pal to his podcast, where he quizzed the latter on a range of topics surrounding Bitcoin [BTC] and its numerous run-ins with regulatory bodies.

USD Coin (USDC), the world’s second-largest stablecoin, may simply have been in the wrong place at the wrong time. 

Silicon Valley Bank (SVB) boasted over $200 billion in assets and was a lifeline for crypto companies.

In this article

Bitcoin reaching levels not seen in about nine months. The largest digital asset topped $28,000 for the first time since June 2022, trading for as much as $28,258 on Sunday. Since the start of the year, Bitcoin’s price has risen almost 70%. Other digital assets rallied as well — with Ethereum up about 17% since the start of last week and so-called altcoins like Solana and Cardano advancing, too. Traders waded high levels of uncertainty last week in markets. US two-year yields fluctuated wildly, and the Cboe Volatility Index, the so-called fear gauge also known as the VIX, spiked above 30. But Bitcoin kept steadfast — and straight up. “Bitcoin is correlated with liquidity conditions and real rates. Real rates have declined, liquidity conditions have expanded, and it looks as if we’re entering a new regime,” said Ilan Solot, co-head of digital assets at Marex.

Public blockchains provide decentralization and transparency, but they lack on the privacy side. The anonymity of transactions on blockchains like Bitcoin (BTC) and Ethereum (ETH) is steadily losing ground, as transactions and addresses are easily tracked. With KYC imposed on most crypto exchanges, the majority of blockchain transactions can be traced to their initiators, exposing user activity, holdings, and financial data.