Crypto Mufasa
Advertise
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
  • Login
  • Register
  • Crypto News
    • General News
    • Bitcoin News
    • Altcoin News
    • Ethereum News
  • NFT NEWS
  • Beginner Guides
  • Price Predictions
  • Crypto Prices
No Result
View All Result
Crypto Mufasa
No Result
View All Result

Home » What Caused Bitcoin (BTC) To Quickly Rise Over $26,000? 

What Caused Bitcoin (BTC) To Quickly Rise Over $26,000? 

Hania by Hania
March 14, 2023
in Bitcoin News
Reading Time: 4 mins read
A A
0
Bitcoin Will Be The Best Investment Of The Decade, As Indicated By Gemini Co-Founder
Share on FacebookShare on Twitter
ADVERTISEMENT

On March 14, the price of Bitcoin unexpectedly rose beyond the $26,000 threshold, hitting a nine-month high in the process. Bitcoin (BTC), the most valuable cryptocurrency by market capitalization, continued its upward trend and surpassed $26,000 for the first time since June 2022.

According to the TradingView chart, BTC soared to intraday highs of $26,553. As of the time of writing, it has gained 16.67% over the previous 24 hours to reach $26,089.

What Caused Bitcoin (BTC) To Quickly Rise Over $26,000? 
Source: TradingView

The recent gains come in the wake of the most recent Consumer Price Index (CPI) announcement for February, which showed a drop in inflation to 0.4% from 0.5% in January, as predicted by economists.

On a year-over-year basis, inflation decreased from 6.4% to 6.0% in the previous month, as anticipated. Before to the announcement, the markets had assumed that the Fed would approve an additional 0.25 percentage point rise to its benchmark rate.

You May AlsoLike

Bitcoin Treasure Hunt- James Howells Takes Legal Action Over Lost $500M Stash

Bitcoin Treasure Hunt: James Howells Takes Legal Action Over Lost $500M Stash

October 14, 2024
Speculation on Peter Todd as Satoshi

HBO Documentary Fuels Speculation on Bitcoin’s Creator: Peter Todd Responds

October 10, 2024

With the release of the CPI report, this probability increased, and traders are now projecting higher odds that the Fed will increase interest rates by a quarter point.

The closing of two significant crypto-friendly banks last week and the USDC stablecoin depeg over the weekend, as well as the liquidation of $158 million worth of short positions or bets, prompted numerous individuals to be surprised by Bitcoin’s rally.

Relatable: Silicon Valley Bank Closed By California Regulator

Breaking: New York Regulators Have Closed Crypto-Friendly Signature Bank, Claiming “Systemic Risk”

What Caused Bitcoin (BTC) To Quickly Rise Over $26,000? 

Additional aspects

Following the sudden SVB collapse on March 10, Bitcoin hit a low of $19,568. On track to post its fourth straight day of gains since March 11, its price began a strong rebound from the lows.

The Federal Deposit Insurance Corporation’s latest claim that Silicon Valley Bank depositors will have full access to their funds following verification of a successful transfer of deposits to a new bridge bank has contributed to this.

Moreover, Binance’s conversion of Binance USD (BUSD) worth $1 billion to boost the market may have increased buying pressure.

Disclaimer: 
The views presented here are not investment advice and are provided solely for informational reasons. It does not always reflect the view of Crypto Mufasa. Every investment and every trade contains risk, therefore you should always conduct your own research before making any decisions. 
We do not advise investing money that you cannot afford to lose.
Tags: bitcoin pricecrypto newsprice prediction
Share79Tweet49
ADVERTISEMENT
Previous Post

Coinbase Discontinued Accepting Trading For BUSD

Next Post

” Ethereum (ETH) Makes Biggest Comeback in 250 Days With Impressive 20% Rally”

Hania

Hania

Hania is a 30-year-old blogger who used to be a teacher before entering the world of writing. She is originally from India and has been writing blogs on various topics for 2 years now. Hania is particularly interested in exploring the intersections of finance, technology, and cryptocurrency. Her experience as a teacher has given her unique insights into the ways in which digital media can be used to facilitate learning and engagement. Through her writing, Hania hopes to share her knowledge and learning of crypto industry with everyone.

Related Posts

Bitcoin Treasure Hunt- James Howells Takes Legal Action Over Lost $500M Stash
Bitcoin News

Bitcoin Treasure Hunt: James Howells Takes Legal Action Over Lost $500M Stash

October 14, 2024
Speculation on Peter Todd as Satoshi
Bitcoin News

HBO Documentary Fuels Speculation on Bitcoin’s Creator: Peter Todd Responds

October 10, 2024
Bitcoin ETFs nearing Satoshi’s 1 million BTC stash
Bitcoin News

U.S. Bitcoin ETFs Nearing Satoshi’s 1 Million BTC Stash

September 30, 2024
BlackRock’s Bitcoin and Ethereum Investments Surge
Bitcoin News

BlackRock’s Bitcoin and Ethereum Investments Surge: Could $70K Be Next?

September 25, 2024
Crypto Market Surges- Bitcoin Hits $63K, Altcoins Follow Suit
Altcoin News

Crypto Market Surges: Bitcoin Hits $63K, Altcoins Follow Suit

September 19, 2024
Trump Targeted Again, Bitcoin Suffers 3% Drop
Bitcoin News

Trump Targeted Again, Bitcoin Suffers 3% Drop

September 16, 2024
Next Post
" Ethereum (ETH) Makes Biggest Comeback in 250 Days With Impressive 20% Rally"

" Ethereum (ETH) Makes Biggest Comeback in 250 Days With Impressive 20% Rally"

Discussion about this post

Live Prices

Stay Connected

You May Also Like

  • MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    MetaMask Ethereum Wallet Expands Support for Both Bitcoin and Solana

    196 shares
    Share 78 Tweet 49
  • Why the Bitcoin Halving Is Happening Sooner Than Anticipated

    238 shares
    Share 95 Tweet 60
  • Solana Futures Launch at CME Boosts Price Amid High Demand

    191 shares
    Share 76 Tweet 48
  • Cardano (ADA) Staking Now enabled by Trust Wallet

    190 shares
    Share 76 Tweet 48
  • March 2025 Polymarket Bets Boom for Bitcoin, XRP, ETH, AI, and DOGE – The Future of Cryptocurrency Trading!

    196 shares
    Share 78 Tweet 49
  • About Us
  • Contact Us
  • Work With Us
  • Privacy Policy
  • Terms Of Service

© 2022-2024 CryptoMufasa - All Rights Reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

*By registering into our website, you agree to the Terms Of Services and Privacy Policy.
All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • General News
  • Beginner Guides
  • Bitcoin News
  • Ethereum News
  • Altcoin News
  • NFT News
  • Price Predictions
  • Google News

© 2022-2024 CryptoMufasa - All Rights Reserved!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Don’t Miss Out on the Best in Crypto!

Stay ahead with a weekly digest of the top news and insights—no spam, no ads, just the essential updates delivered straight to your inbox. Subscribe now for valuable content you can trust!

johnsmith@example.com
subscribe to email

Never see this message again.