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• Bitcoin (BTC) recorded impressive gains earlier today, hitting $28,554.07 before retracing to the current price of $27,851.
• The banking crisis is one of the major factors pushing the recent BTC rally as many investors started losing trust in traditional banking systems.
• Other coins like Ethereum (ETH), BNB, XRP, ADA, MATIC, DOGE, BUSD, SHIB and LTC are all down in 24 hours while BTC gained 27.93% in 7 days.

Bitcoin Price Spikes Amid Banking Crisis

The Bitcoin market was eventful on March 20th with some top coins and altcoins recording gains in their seven-day prices. BTC is up 3.47% in 24 hours and its seven-day gain stands at 27.93%. Ethereum has gained 12.82% in 7 days even though it is losing against the dollar in 24 hours price performance. Surprisingly, the banking crisis did not affect Bitcoin’s bull run as it led to a positive trend reversal for the digital asset causing it to gain $26 billion in market cap and hit a 9-month high of $28,554.07 before retracing back down to its current price of $27,851..

Reasons Behind The Rally

The banking crisis is one of the major factors driving this recent BTC rally as many investors started losing trust in traditional banking systems after Silvergate Bank collapsed along with Silicon Valley and Signature banks despite efforts from US Feds to support them by providing funds for depositors’ demands.. Analysts also alarmed people about how a bank run could crash 190 US banks which further exacerbated fears among investors who then sought refuge in Bitcoin’s store of value and digital gold status during times of global financial turmoil..

Altcoin Performance

While BTC has been soaring on the charts other coins have not seen such success today with Ethereum being an example as it lost against USD instead of gaining today while other coins like BNB ,XRP ,ADA ,MATIC ,DOGE ,BUSD ,SHIB &LTC are all down within 24hours time frame but WBTC got 3.49 % gain within 24hours & 27 .29 % gain within 7 day’s time frame .Despite these losses many altcoins have still managed to post impressive gains over a seven-day period .

Future Outlook

As Bitcoin continues to outperform gold by 70%, up till now this year compared to gold’s 9%, there is optimism that this trend will continue if fear persists about traditional banking systems stability .Meanwhile other Altcoins will look forward for better returns when given more chances .

Conclusion

In conclusion we can see that although altcoins have seen losses against USD today due to various reasons they still managed to post impressive gains over a seven-day period showing that crypto markets are resilient enough despite any negative events or news . It appears that investors are seeking refuge from traditional banking system volatility through investing into cryptocurrencies such as Bitcoin which continues its bull run since June 13th 2022 giving an optimistic outlook for future investments into cryptos regardless of any external events or news

Important Week for Bitcoin and Crypto

• The Bitcoin and crypto markets are facing an important week shaped by macro data and the brewing US banking crisis.
• At the beginning of last week, odds of a Fed rate hike at the next FOMC meeting were high, but this has changed.
• Financial world will be looking at US President Joe Biden’s speech on the US banking crisis to determine whether crypto is scapegoated.

US Banking Crisis Impacting Markets

The financial markets are currently facing a volatile climate due to the brewing US banking crisis. At the start of last week, it seemed likely that the Federal Reserve would raise interest rates by 50 basis points at their March 22nd meeting. However, in light of recent events, this no longer appears likely as Goldman Sachs economist Jan Hatzius noted in a Sunday note: “In light of the stress in the banking system, we no longer expect the FOMC to deliver a rate hike at its next meeting on March 22.” In order for markets to remain stable, it is essential that President Biden address these issues in his upcoming speech.

Biden Speech Crucial To Crypto Industry

President Biden’s speech will be especially crucial to those within the crypto industry, as he must address whether or not Silicon Valley Bank (SVB) problems stem from investing $91 billion in long-dated securities such as mortgage bonds and U.S. Treasuries which have now lost $15 billion due to recent Federal Reserve activity. If he does acknowledge this issue, it could signal direct implications on Fed policy going forward.

Fed In Tough Spot

The Federal Reserve is in a difficult position; if they raise interest rates too quickly then it could add more stress onto already struggling banks but if they do not raise rates soon enough then their target inflation rate may not be met. According to The FedWatch Tool, only 55% now expect a 25 basis point hike due to recent developments.

Bitcoin Value Could Increase

If President Biden’s speech leads investors to believe that there will not be any further hikes from The Federal Reserve anytime soon then this could mean good news for Bitcoin and other cryptocurrencies; while many investors see digital currencies as an alternative hedge against inflationary assets like gold and silver, higher rates tend to depress demand for cryptocurrencies such as bitcoin since they offer no yield themselves. Therefore if rates stay low then demand for bitcoin could increase significantly over time.

• The Litecoin Foundation recently released an upgrade called Litecoin Core 0.21.2.2 to improve its network security and fix critical issues affecting nodes.
• Following the update, the LTC price spiked and miners rushed in. However, a recent price drop has scared off investors, leading to a decrease in daily trading volume.
• Chart indicators suggest further bear runs in the coming days, which may lead to miners losing interest in mining LTC.

Litecoin Update and Price Spike

The Litecoin Foundation announced the update named Litecoin Core 0.21.2.2 on March 2 and shared the information on Twitter. Don’t wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today! At press time, LTC trades at $89, indicating a slight loss in 24 hours but its trading volume is down by 48.42%, indicating slow activities with the coin Coinwarz’s data shows that the network hashrate recorded a slight uptick, suggesting new miners rushed in following the update and price spike of LTC from January 1 until February 3 2021 when it hit $101 intraday high..

Decreasing Interest of Miners

However, it seems insufficient to keep miners’ interest in the network high given the drop in LTC price as well as other chart indicators such as RSI below neutral mark, downtick on CMF, MACD bearish move etc., showing more bear runs in the coming days that might cause miners to lose interest in mining LTC entirely..

Network Improvement

One of ways to increase investors’ interest is network improvement where developers of cryptocurrencies come up with improvement proposals to make their networks efficient accommodating users needs and fixing issues hindering transactions..

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Conclusion

In conclusion we can say that though Litecoin Core 0.21.02 had increased interests among miners due to price spike after release but due various chart indicators such Network Improvement like Dogeoin trading on Coins Pro could be seen as great news for holders who can now buy/sell DOGE easily from there are pointing towards decreasing miner interests if no major improvements are made soon enough .

• Hong Kong’s Securities and Futures Commission (SFC) has taken a new approach to the crypto industry, which could bring a new wave of capital to the largest digital assets in the ecosystem.
• Kaiko suggests that Asia appears to be positioning itself at the forefront of the next digital asset revolution by welcoming crypto business.
• The influx of new capital into Hong Kong and Asia could mean economic growth for the region and Asian exchanges.

Hong Kong’s Crypto Industry Regulations

Hong Kong’s Securities and Futures Commission (SFC) has taken a new approach to regulating the nascent crypto industry. This fresh outlook could benefit both the cryptocurrency market and attract more capital investments into the largest digital assets on offer in the ecosystem. On Monday, it became clear that Hong Kong is ready to open its doors to trading cryptos in Asia, a move that stands out from other enforcement actions taken by other countries such as the United States’ SEC.

Asian Crypto Revolution

Digital asset market data provider Kaiko weighed in on this matter in their blog post, suggesting that Asia is taking up an advantageous position at what appears to be at the vanguard of yet another digital asset revolution – one that welcomes crypto businesses with open arms. Kaiko Research Analyst Conor Ryder said: “An enticing East could well be the next catalyst that propels crypto prices upwards, with some proclaiming that this run has already started, propelled by an Asian-linked token rally”.

The Reason Behind The Change Of Heart

After a turbulent year filled with low prices and exchange debacles such as FTX, why are jurisdictions like Hong Kong now loosening their regulatory policies regarding cryptocurrencies? Kaiko analyst Conor Ryder believes it may have something to do with recent enforcement action from US regulators – making now seem like an opportune moment for Hong Kong to strike while everyone is looking away. Data compiled by Kaiko reveals how Asian exchanges were among those who benefited most from 2021’s bull run — though since China outlawed cryptos at end of 2021 activity has been considerably dampened compared to other regions due to Binance’s reduced trading volumes there.

Eligible Cryptocurrencies Under SFC Proposals

Under SFC proposals eligible cryptocurrencies must meet certain criteria before being traded on approved indices — these include being part of ‘the largest cap virtual assets’ listed therein; perpetual futures markets responded positively when they realized this meant renewed flows from Asia would soon be incoming again.

Conclusion

The fresh regulations laid out by Hong Kong’s SFC may well prove beneficial for both investors seeking returns as well as economies across Europe or North America who may take advantage of increased trading activities between themselves and Asia — not least because greater liquidity often leads lower spreads which can benefit all traders involved regardless if they are long or short term invested in any given asset class or instrument type.

• Binance is reportedly considering ending relationships with U.S. business partners due to a tightening in regulatory policies by the SEC.
• The SEC has alleged that BUSD, a stablecoin pegged to the US dollar, is a security and sued crypto firm Paxos.
• Binance CEO Changpeng Zao denies allegations of moving $400 million from a “secret” account paired with the exchange’s subsidiary Binance.US into his trading firm Merit Peak.

Binance Considering Ending Relationships With US Business Partners

Binance, the largest cryptocurrency exchange in the market, is reportedly considering ending relationships with U.S. business partners due to a tightening in regulatory policies by the Securities Exchange Commission (SEC). Allegations have been made by the SEC that BUSD, a stablecoin pegged to the US dollar, is actually a security and legal action has been taken against crypto firm Paxos as a result of this determination.

Reassessing Investments In The United States

The climate between exchanges and U.S. regulators has become increasingly concerning as a result of these events and as such Binance is reassessing investments in the United States jurisdiction where it does not currently possess an operating license but conducts business through its subsidiary Binance.US

CEO Denies Allegations

Binance CEO Changpeng Zao (CZ) has denied any reports linking his company to moving $400 million from an undisclosed account associated with its American subsidiary into his personal trading firm Merit Peak located in British Virgin Islands according to Reuters sources although spokeswoman Kimberly Soward did confirm that Merit Peak was not actively trading or providing services on the platform and only employees within Biance US had access to it at this time.

Crypto Market Experiencing Rough Start To Q1

Despite recording some positive results during recent bull runs in the cryptocurrency market it appears that Q1 will be exceptionally challenging for all involved due largely in part to intensified scrutiny from U.S regulators making many investors uncertain of their positions going forward leaving them vulnerable during volatile times such as these when they need stability more than ever before if they are going to make successful trades over long periods of time without compromising their capital reserves too heavily or unnecessarily risking losses whenever possible

Conclusion

Overall it appears that increased regulation from U..S watchdogs is causing instability amongst cryptocurrency exchanges who are now looking for alternative ways to conduct business away from U..S boundaries so as not be subject to such extreme levels of oversight which may ultimately damage their reputation and hinder potential growth opportunities both now and possibly well into future quarters also

Bitcoin Market Sentiment Reaches Neutral

• Bitcoin price has dropped below the $22,000 level and the Fear and Greed Index now points at a “neutral” sentiment.
• Values of the index higher than 50 mark indicate that the market is greedy, while those lower than 50 imply investors are fearful.
• The longest ever streaks of fear and extreme fear in the history of Bitcoin have finally come to an end earlier this year due to a rally in its price.

Fear And Greed Index

The “fear and greed index” is an indicator used to measure general sentiment among investors in the Bitcoin market. It uses a numeric scale that runs from 0-100 to display sentiment levels, with values above 50 suggesting greed, those below representing fear, and 46-54 being considered as “neutral”. Special sentiments of “extreme greed” (index > 75) and “extreme fear” (index < 25) are also monitored by traders, as tops and bottoms in the price of Bitcoin have historically tended to take place during these times.

Current Market Sentiment

Currently, the Bitcoin fear and greed index has a value of 48 which suggests that investors have a neutral sentiment with a slight lean towards fear. This is lower than what was seen recently when the market had been quite greedy. Over the past year both these streaks were some of the longest ever recorded; however they came to an end earlier this year when there was finally a rally in its price.

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Conclusion

The current decline in Bitcoin’s price has resulted in its Fear & Greed Index dropping below 50 – indicating that investor sentiment has shifted towards neutrality – although there still remains some lean towards fearfulness. Although such extreme sentiments have historically indicated tops/bottoms within its price fluctuations; previous streaks have been broken due to rallies earlier this year resulting in renewed optimism for potential profits within cryptocurrency investments.

• Arizona state Sen. Wendy Rogers has proposed legislation that would make bitcoin legal currency in Arizona and allow state agencies to accept it.
• The proposed law, designated SB 1341, would make Arizona the first state in the United States to recognize bitcoin as a legal form of currency.
• If passed, the law would permit the payment of debts, taxes, and other financial responsibilities in Arizona with bitcoin.

The cryptocurrency craze has taken the world by storm, and now the state of Arizona is looking to make bitcoin a legal form of currency. On Wednesday, Arizona Republican Senator Wendy Rogers presented a bill, designated SB 1341, that would make Arizona the first state in the United States to recognize bitcoin as a legal form of currency. The bill has sparked a heated exchange of opinions, and if passed, the law would permit the payment of debts, taxes, and other financial responsibilities in Arizona with bitcoin.

This proposed law comes at a time when the cryptocurrency market has seen a huge decline of 60% from its all-time high. Despite this, many still have faith in the cryptocurrency’s future, and Senator Rogers is one of them. The bill is also co-sponsored by Rogers’ Republican colleagues in the state senate, J.D. Mesnard and Jeff Weninger. If passed, the law would mean that all transactions currently conducted in U.S. dollars (USD) might possibly be carried out in BTC, and people and establishments would be free to use the cryptocurrency as they see right.

The bill has been widely anticipated, and it still has yet to be established when the discussion will be held in an official capacity. However, this proposed law could have a huge impact on the state of Arizona. It could be a major step forward in the world of cryptocurrency and could potentially lead to other states adopting similar legislation. Furthermore, it could also open up the state to a new wave of investment and innovation.

Only time will tell if this proposed law will be passed, but for now, it is an exciting prospect for the state of Arizona. If it does pass, then it could be a major milestone in the world of cryptocurrency and could lead to a new era of financial freedom and flexibility in the state.

• Dogecoin and Shiba Inu continue to lead the meme coin rally
• Both coins have seen double digit gains in the last 24 hours
• Gains are attributed to Twitter adding both coins to its $Cashtags feature

Dogecoin and Shiba Inu have once again taken the lead in the meme coin rally, with both assets seeing double-digit gains in the last 24 hours. This impressive performance is largely attributed to Twitter adding both coins to its $Cashtags feature. This has allowed users on the platform to easily search for the prices of the two coins, which has helped to drive up their respective prices.

Dogecoin has seen a 2.23% rise in the last 24 hours, with 12% gains over the past week. Meanwhile, Shiba Inu has seen an even more impressive 15% rise in the same time period, with an increase of 34% in the past week. This surge in the value of the asset is largely due to the anticipation surrounding the launch of Shibarium, a Layer 2 blockchain.

The addition of Dogecoin and Shiba Inu to Twitter’s $Cashtags feature has been a major factor in the surge in the value of both coins. The feature allows Twitter users to easily search for the prices of both coins and this has helped to drive up interest in the two coins. The ease of access to information regarding the two coins has been a major factor in their value increases.

The meme coin sector has seen a significant revival over the last week, with all of the altcoins following suit. Despite the market cooling off in the last 24 hours, the meme coins have continued to defy the trend and have seen strong gains. This shows that they remain a powerful force in the sector, and could continue to see strong growth in the near future.

• Crypto lending firm Vauld struggled during the crypto winter of 2022 resulting in it filing for bankruptcy.
• Vauld was granted a three-month creditor protection period by the Singapore court, but the court has now extended this period until February 28th, 2023.
• The extension was requested by Vauld in order to complete negotiations with two digital asset fund managers interested in acquiring its assets.

The crypto space has seen its fair share of ups and downs over the last few years. In 2022, the crypto winter took hold and many companies were left scrambling to make ends meet. Vauld, a crypto lending firm, experienced a particularly difficult time during this period leading to it filing for bankruptcy.

In an effort to help the company, the Singapore court granted Vauld a three-month creditor protection period. This period was designed to give the firm time to explore its options and possibly find a way to continue operating. Unfortunately, the situation did not improve and Vauld requested an extension to the period.

The court has now granted Vauld an extended period of creditor protection until February 28th, 2023. The extra time has been requested by the company in order to allow them to complete negotiations with two digital asset fund managers interested in taking over the remaining Vauld assets. The negotiations have reportedly reached an advanced stage and will require more time to conclude.

Vauld has now been given a much needed lifeline to continue its discussions with the digital asset fund managers and potentially find a way to continue operating. Although the future of the company remains uncertain, the extended period of creditor protection could be the lifeline it needs in order to get back on its feet.