Bitcoin grew by 5.5% over the week

Bitcoin BTC $82,364.59 Bitcoin -2.58% Market capitalization $1.63 trillion VOL. 24 hours $0.99 billion demonstrates a recovery in value — on the morning of March 24, the price of the first cryptocurrency exceeded USD 87 thousand. This milestone is yet another indication of the steady growth dynamics that the digital asset market has been demonstrating lately. Over the past week, bitcoin has added 5.5% in value.

Along with bitcoin, other major cryptocurrencies have also seen positive changes. In particular, Ethereum ETH $1,815.06 Bridged Ether (StarkGate) -4.57% Market capitalization $0.16 billion VOL. 24 hours $0.76 billion has been steadily trading above two thousand dollars. In general, assets from the top 10 by capitalization showed a similar growth trend, which adds optimism to investors and market players.

Amid such rapid growth in the crypto market, there is a wave of liquidations of short positions in futures. Traders lost almost $ 185 million overnight. Most liquidations were recorded on Bybit and Binance. This indicates that many people did not calculate their strength when playing for a decline.

The fear and greed index remains an important indicator of market sentiment. Over the past day, it has risen by 15 points, demonstrating the growth of optimism among market participants. Analysts attribute this not only to market factors, but also to general economic policy.

Arthur Hayes, co-founder of BitMEX, expressed his vision of the situation. According to his forecast, in the near future, bitcoin may rise to $ 110,000, after which it will correct to the level of $ 76,500. Hayes explains this potential breakthrough by the fact that the US Federal Reserve is gradually shifting from a policy of tight monetary discipline to easing, i.e., launching the process of increasing the money supply.

The Fed’s recent decision to leave the key rate unchanged also had a positive impact on the market. Bitcoin reacted with growth, which only strengthened the general wave of optimism among crypto enthusiasts.