Tlop Cryptocurrency, Bitcoin continued to hold firm during the early trading hours on Tuesday, March 21 but other crypto assets were trading lower During trading hours,
Bitcoin remained stable, but other crypto assets were selling at lower prices. When the US Federal Reserve's two-day FOMC meeting gets underway today, traders from all around the world are keeping an eye on the interest rate increase. In light of the worries, the banking industry will also be closely watched.
Bitcoin was trading higher, up more than 1% in the previous day, and was just under $28,000. The largest peer, Ethereum, was down approximately 1% but continued to trade above $1,750. Yet, the majority of the alternative currencies were trading with respectable losses.
It was encouraging to see the cryptocurrency market increase last week despite all odds. According to Parth Chaturvedi, Crypto Ecosystem Head at CoinSwitch, despite the several sell-offs in global stocks and "risky assets," Bitcoin (BTC) has now broken out of the $20,000-$25,000 range it had been trading in for weeks.
The banking sector news can still affect market attitudes, he added, so prudence is still necessary. "Regulators may continue to make it challenging for banks to conduct transactions involving cryptocurrencies, as they did with Signature bank. The Fed meeting on Wednesday will be another event to keep an eye on."
On Tuesday, all major cryptocurrency tokens other than Bitcoin were trading in the red as the banking crisis subsided. Litecoin fell 5%, compared to a 6% decline in Avalanche. Dogecoin, Polygon, and Polkadot all lost 4%. Shiba Inu decreased by 3%.
The market capitalization of all cryptocurrencies was trading marginally lower at $1.16 trillion, dropping about 1% on the previous day. The entire trade volume did, however, rise by as much as 9%, or around USD 74.43 billion.
The advantages of bitcoin for remote workers and digital nomads.
