By the end of March, bitcoin grew by 22.96%, while Ethereum — by 13.46%. Both assets successfully closed the first quarter of 2023.

In January-March, the first and second cryptocurrencies rose by 71.77% and 52.15%, respectively. The market showed significant growth against the background of banking crisis in the United States and general macroeconomic instability — on March 30, bitcoin updated the local maximum above $ 29,000.

Last month, the “Fear and Greed Index” updated the annual maximum before the next Fed meeting, reaching 68. This corresponds to the level of November 2021, when bitcoin quotes first approached the $20,000 mark and continued to move towards the historical extreme.

The minimum value of the indicator 33 was recorded on March 12. The sharp decline in the indicator is explained by the panic that arose due to the loss of parity to the US dollar by the USDC stablecoin.

The dynamics of index indicates optimism of investors, despite the problems of banking sector and the increased pressure on industry players from American regulators. This may be a sign of the beginning of a new bull run.

In March, bitcoin’s statistical relationship with the US stock market weakened significantly. The correlation with the S&P 500 index dropped to 0.27 (0.42 in February), with the Dow Jones indicator — 0.25 (0.38 a month earlier).

The movement of quotations of the first cryptocurrency and gold was unidirectional, while the relationship between the two assets strengthened — 0.25 versus 0.15 in February. However, against the background of the banking crisis, the digital asset shows better dynamics in comparison with traditional financial instruments.

Сообщение Bitcoin closed the best quarter since the beginning of 2021 появились сначала на Coinstelegram.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

50 +