News
Bitcoin Price Revisits the $23,000 Zone as Fed Concerns Mount

Bitcoin has revisited the $23,000 zone as investors chew on the FOMC meeting minutes released on Thursday. At the time of writing, the largest crypto by total market cap was trading slightly higher at $24,375. The total volume of BTC traded in the last 24 hours has slipped by more than 11%, while its market cap inched slightly higher.
Fundamentals
Bitcoin price has been facing numerous challenges in its journey, among them government regulations and cyclical market patterns. The past market year has seen Bitcoin crash from its all-time high of $69,000, making it tough for the digital asset to skyrocket.
Even so, with the recent growth in momentum, experts seem optimistic, predicting that the cryptocurrency could jump to new heights in the near future. Even with minor setbacks, such as the removal of crypto-related commercials from the NFL Super Bowl and rising US inflation, traders remain optimistic about BTC’s future.
Bitcoin is becoming more popular every day with its integration into many payment systems and adoption as the legal tender in two countries, El Salvador and the Central African Republic. As such, Bitcoin’s future is likely to be bullish.
The recently released minutes by the US Federal Reserve saw the BTC price decline below the important level of $25,000. The minutes from the meeting of the Federal Open Market Committee (FOMC) suggested both hawkish and dovish sentiments among the members. Notably, there was no mention of a pause in the further hiking of interest rates.
According to the minutes, most Fed officials agreed on the importance of further interest rate hikes which would allow for appropriate risk management. Further interest rate hikes could lead to a decrease in liquidity and a strengthening of the US dollar. As a result, this could negatively impact the price of Bitcoin and other digital assets.
On the flip side, higher interest rates lead to a sell-off in the stock market and could create demand for alternative investments like Bitcoin as investors search for higher-yielding assets.
Bitcoin Price Analysis
The FOMC meeting minutes left investors cautious, failing to attract enough buyers to yield a rally. On the daily chart, the Bitcoin price has managed to remain above the 50-day and 200-day exponential moving averages (EMAs). Its Relative Strength Index (RSI) has continued to move lower, pointing to a decline in buying pressure.
Therefore, the BTC price is likely to continue moving lower in the short term but above the important support of $22,000. However, a move past the key level of $25,000 will have bulls targeting a fresh year-to-date high.
Bitcoin
Bitcoin Price Jumps to Highest Level in 9 Months on the Back of the UBS Merger Deal

Bitcoin price has been hovering above its highest level since June 2022 over the past few hours. The largest cryptocurrency by market cap has jumped by 28.30% in the past week, while its year-to-date price inches higher to 70.63%. Bitcoin’s total market cap has increased by 4.77% over the last 24 hours to $547.7 billion, while the total volume of the coin traded rose by 50%.
BTC Skyrockets
Bitcoin price was rallying on Monday as most altcoins slumped, led by the largest altcoin by market cap, Ethereum. The global crypto market cap has increased 2.49% over the last day to $1.18 trillion, while the total crypto market volume jumped 34.88%. Bitcoin’s dominance inched 0.98% over the past 24 hours to 46.34%, its highest level since June 2022.
The recent global banking crisis in which three major banks in the US were closed within days has pushed the BTC price higher. Silvergate Capital, Signature Bank, and Silicon Valley Bank recently disclosed operational difficulties, prompting regulators to shut them down.
Switzerland’s largest banking institution, UBS, announced on Sunday that it had entered a merger deal with its embattled rival Credit Suisse. UBS announced that it would buy its rival for $3.25 billion, with Swiss regulators playing a key role in the ideal. According to the Swiss National Bank, the merger will secure financial stability and protect the Swiss economy.
Bitcoin reacted positively to the news, cruising…
Altcoins
Solana Price: Technicals Point to a Sell

Solana price joined in on the recent rally in the global cryptocurrency market, jumping nearly 17% in the past week. Solana has made substantial gains this year, climbing 102% in its year-to-date price. SOL ranks as the 11th largest cryptocurrency after Binance USD and ahead of Polkadot. Despite the altcoin’s recent rally, the total volume of the coin traded has continued to dwindle.
Fundamentals
Solana price was trading slightly higher on Friday as Bitcoin and other altcoins extended their rally despite the bank contagion fears weighing on the markets. Bitcoin and Ethereum have been leading the recent rally in the market, jumping more than 30% and 20% in the past week, respectively.
Investors have welcomed the resilient crypto prices amid the recent crisis in the banking sector this week. The week started with the collapse of Signature Bank and Silicon Valley Bank on Sunday until the focus shifted to Credit Suisse and First Republic Bank. Traders have been digesting the fate of Credit Suisse even after the bank said that it would borrow up to 50 billion Swiss Francs from the Swiss National Bank.
Several analysts have linked the recent rally in the crypto market to lingering bank worries. Even so, crypto prices are heavily influenced by inflation and the Federal Reserve interest rate hikes. According to analysts, the recent decline in banking stocks points to the vulnerability of traditional institutions, raising liquidity concerns…
Bitcoin
Bitcoin Price Extends Rally as Latest US CPI Reading Falls in Line With Market Expectations

Bitcoin price has been on a 4-day consecutive rally, jumping more than 29% since Friday when Silicon Valley Bank collapsed. Despite the tough year so far, BTC has been among the best-performing cryptocurrencies, jumping 57% in the year to date. At the time of writing, Bitcoin was trading 7% higher at $25,820.
BTC is Outperforming
Bitcoin price has been rallying in its recent trading sessions despite the collapse of the Silicon Valley Bank last week on Friday. The coin’s recent rally has been largely boosted by the current bullish momentum in the markets. Bitcoin’s coin market cap has increased by more than 7% in the past 24 hours, while the total volume of the coin traded slipped 8%.
Data by Coinmarketcap shows that the global crypto market cap has increased further by 5.19% to $1.13 trillion, while the total crypto market volume has decreased by 15.96% over the same period. Bitcoin’s dominance has increased by 0.83% over the last day to 44.24%.
The rally in the crypto market has been intricately linked to the recent US Consumer Price Index (CPI) data. The Bureau of Labor Statistics (BLS) reported a 0.4% increase in inflation in February from January, matching consensus estimates by analysts.
The CPI reading declined to 6% year on year, down from 6.4% in January, in line with market expectations. The core CPI, which excludes volatile food and energy prices, came in at…
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