Bitcoin (BTC) is on track to close the week with gains of more than 23%. The banking crisis in the United States and Europe seems to have boosted buying in Bitcoin, indicating that the leading cryptocurrency is behaving as a safe haven asset in the near term.
All eyes are on the Federal Reserve’s meeting on March 21 and 22. The failure of the banks in the U.S. has increased hopes that the Fed will not hike rates in the meeting. The CME FedWatch Tool shows a 38% probability of a pause and a 62% probability of a 25 basis points rate hike on March 22.
Crypto market data daily view. Source: Coin360BTC/USDT daily chart. Source: TradingViewBTC/USDT 4-hour chart. Source: TradingViewETH/USDT daily chart. Source: TradingViewETH/USDT 4-hour chart. Source: TradingViewBNB/USDT daily chart. Source: TradingViewBNB/USDT 4-hour chart. Source: TradingViewSTX/USDT daily chart. Source: TradingViewSTX/USDT 4-hour chart. Source: TradingViewIMX/USDT daily chart. Source: TradingViewIMX/USDT 4-hour chart. Source: TradingView
Continue Reading on Coin Telegraph
