$BTC $ETH Ajaib Crypto Flash: Bitcoin Sets Another Record & Ethereum Prepares to Upgrade!

March 13, 2024

Bitcoin (BTC) hit a new record high above $70,000 on the back of demand for a new US spot Bitcoin ETF and expectations of a global interest rate cut. This increase strengthened the occurrence of the Bitcoin Halving event in April.

The Ethereum (ETH ) blockchain is looking forward to the Dencun upgrade which will launch on March 13, 2024 . It is estimated that it will reduce transaction costs (gas fees) on the layer-2 network.

Wednesday (13/3) morning at 08:00 WIB Bitcoin (BTC) moved at $71,429 down 1.05% after successfully setting a new all time high at $72,800. Meanwhile, Ethereum (ETH) also fell 1.78% to hit $3,979. Thus, the total market capitalization of Crypto Assets is at the level of $2.617 Trillion, down by 0.68% in the last 24 hours.

Wall Street closed higher on Tuesday (13/3) after inflation data came close to market expectations, paving the way for investors to return to buying leading technology stocks, such as Nvidia and Meta. The Dow Jones rose 0.61% to 39,005 and the Nasdaq Composite rose 1.54% to 16,265. Meanwhile the S&P 500 rose 1.12% to 5,175, topping its previous record closing high on March 7.

Tuesday (13/3) The United States (US) dollar index rose slightly by 0.06% to 102,930 due to the CPI report which was slightly above market expectations. Tuesday's February US CPI report of 0.4% MoM was in line with market expectations. Meanwhile, the annual CPI figure of 3.2% YoY was slightly stronger than market expectations of 3.1%, but only 0.2 points above the lowest level of 3.0% YoY in June 2023.