Bitcoin not out of the woods yet
The price of Bitcoin is once again falling to test the levels of 40 000 dollars. The current situation still remains uncertain. Even though we have seen a rather significant price rise, Bitcoin now seems to be struggling to break a significant resistance at around 46 000 dollars. The price was rejected there only few hours ago.
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Texas introduces a Bitcoin bill
Texas introduced a bill that should protect Bitcoin miners, holders, and developers. The bill explains how Bitcoin made several technological breakthroughs, including blockchain and distributed ledger.
After Balaji made a bet that Bitcoin would hit $1 million, Strike CEO, Jack Mallers, joined him. This is due to fears of hyperinflation in the US. In the meantime, the fear and greed index reached 16-month highs, bringing euphoria to the crypto market.
Cryptocurrencies continue to skyrocket
Despite the recent rally, the crypto market continues to take off. Bitcoin jumped more than 8%, and Ethereum is up 3.7%.
Arbitrum (ARB), one of the leading Ethereum Layer 2 networks, has just announced the airdrop of its governance token. The Arbitrum Foundation stated it would happen on March 23rd. The airdrop will give 11.5% of the total supply to eligible Arbitrum users and 1.1% to DAOs that function in the Arbitrum ecosystem.
Bitcoin continues to explode π
Bitcoin continues to skyrocket by 9% above $26,000. This is after markets digested new inflation data from the US. It’s up 32% in the last three days.
Bitcoin explodes in the midst of chaos
Investors are dumping stocks for cryptocurrencies amid several bank collapses. That caused Bitcoin to rise by more than 13% above $23,000 and Ethereum to jump 11% in the past 24 hours.
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The euro strengthened against all fiat currencies, supporting the ongoing trends. EUR/AUD jumped 1.5%, while EUR/JPY and EUR/GBP are up 1.2%.
Texas introduces a Bitcoin bill
Texas introduced a bill that should protect Bitcoin miners, holders, and developers. The bill explains how Bitcoin made several technological breakthroughs, including blockchain and distributed ledger.
FRC gains 30% amid banking mayhem
After a banking bloodbath for the past few weeks, First Republic Bank (FRC) gained 30%. The stock jumped from $12 to $16, but is still down from $120 three weeks ago.
Canada’s annual inflation rate dropped to 5.2% from the previous month’s 5.9%. This is the lowest reading since January 2022 and falls short of the market’s projection of 5.4%. Core inflation decreased as well, from 5% to 4.7%.
After Balaji made a bet that Bitcoin would hit $1 million, Strike CEO, Jack Mallers, joined him. This is due to fears of hyperinflation in the US. In the meantime, the fear and greed index reached 16-month highs, bringing euphoria to the crypto market.
Florida Governor wants to ban CBDCs
Florida Governor Ron DeSantis called for a ban on central bank digital currencies (CBDCs). He pointed out some negative effects, including higher surveillance over citizens or a cap on CBDC holdings.