Bitcoin dipped below $69,000 yesterday amid the ongoing uncertainty on the war front in the Middle East, but managed to rebound by over two grand and now trades around $71,000 once again. Most larger-cap alts are quite sluggish on a daily scale, aside from XLM and HYPE, both of which have increased by over 5%.
Key takeaways
Quick scan — what you need to know:
- Bitcoin dipped below $69,000 yesterday amid the ongoing uncertainty on the war front in the Middle East, but managed to rebound by over two grand and now trades around $71,000 once again.
- Most larger-cap alts are quite sluggish on a daily scale, aside from XLM and HYPE, both of which have increased by over 5%.
- Bitcoin Back to $71K It was just over a week ago when the primary cryptocurrency was rejected at $76,000, and the subsequent correction drove the asset south hard.
- Perhaps influenced by the Fed’s decision to keep the rates unchanged or the quickly escalating tension in the Middle East, BTC found itself dipping to $69,000 last Thursday.
Background
What led here, in plain terms:
- Although it bounced to $71,000 over the weekend, it dropped once again after Trump’s latest threats against Iran and especially when the legacy futures markets opened on Sunday evening.
- Nevertheless, it exploded on Monday when Trump said he will pause all military actions against Iran’s power plants as both parties had reached some sort of a deal.
- The Middle Eastern country’s officials denied the POTUS’s claims, and BTC retreated once again.
- It dropped to $69,000 yesterday but has rebounded to $71,000 as of press time despite more controversial reports on the war front.
Why it matters
Why readers and decision-makers should care:
- The total crypto market cap has added around $20 billion in a day and sits close to $2.530 trillion on CG.
- Cryptocurrency Market Overview March 25.
- Source: QuantifyCrypto The post SIREN Rockets by Triple Digits Again Despite Scrutiny, BTC Back to $71K: Market Watch appeared first on CryptoPotato.