Bitcoin grew by 26% over the week

As of March 20, 2023, the flagship cryptocurrency broke through the $ 28,000 level and is trading at $ 28,269. The market capitalization of bitcoin is $ 546.2 billion, and daily trading volumes exceeded $ 12.97 billion. In just one day, bitcoin grew by 4.47%, and over the past seven days, the asset has risen by 26.27%. During the week, traders secured $ 285.57 billion worth of BTC transactions.

No other cryptocurrency in the top 10 ranking was able to grow so much. However, the Ethereum (ETH) rate jumped by 12.26% over the past week. At the time of writing, the asset is available for purchase at $ 1791. The market capitalization of ETH is $ 215.8 billion, and daily trading volumes exceeded $ 1.2 billion. During the day, ethereum grew by less than 1%.

The leading altcoin continues its rally amid the collapse of three US banks focused on cryptocurrencies. As a reminder, crypto analyst Michael Van De Poppe recently noted that $ 1850 would be an important resistance level for ETH. According to the expert, after reaching the desired level, the ether will trade in the range of $ 1680-$ 1725. After that, the price will jump to $ 2,000.

Solana (SOL) also showed a good result. Over the previous week, the asset’s price rose by 17.95%. At the time of writing, the virtual coin is trading for $ 23.26, the asset’s market capitalization is $ 8.9 billion, and traders have made daily trading deals worth $ 160.4 million.

Market analysts are looking forward to the next meeting of the US Federal Reserve System (Fed), which will be held on March 22, 2023. Experts note that a decision to raise rates as part of the fight against inflation in the United States could seriously affect the situation on the cryptocurrency market. However, most crypto experts noted last week that the Fed is unlikely to do so.