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Bitcoin reaches $30,000 for the first time in a year.

On Tuesday, Bitcoin hit $30,000 for the first time since June 2022, up 6.3%. This rise was fueled by expectations of a less hawkish stance by the US Federal Reserve in the coming months, as well as improved overall market sentiment and reduced concerns about a banking crisis.

This rise in bitcoin has boosted the total cryptocurrency market cap to $1.4 trillion, and bitcoin has outpaced most other assets, up 80% this year.

The US Federal Reserve is expected to raise interest rates at least one more time, but futures on the dollar index indicate a possible pause or cancellation of the hawkish position.

A more lenient policy of the US Federal Reserve would be preferable for Bitcoin and other cryptocurrencies, since a sharp increase in interest rates could lead to a significant decrease in the capitalization of the cryptocurrency market.

This week, the market will focus on the US CPI and the minutes of the March meeting of the US Federal Reserve to get more information about the movement of the interest rate.

Despite the explosive growth in the last month, investors are still cautious about cryptocurrencies due to their fluctuations in the past and regulatory restrictions imposed by the US authorities.


Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
Forex Award | World Forex Award | Forex
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