Bitcoin (BTC): After a lackluster January, Bitcoin and other top cryptocurrencies experienced significant gains. The recent launch of the first spot Bitcoin ETFs pushed BTC prices above $60,000 for the first time since 2021. In early March, BTC briefly surpassed its previous all-time intraday high, reaching $68,990.90. However, as of now, it’s trading around $63,667, still below its peak1.
Ethereum (ETH): Ethereum also rallied in February, partly due to Bitcoin’s momentum and anticipation of the network’s Dencun tech upgrade scheduled for March 13. Investors are hopeful that the U.S. Securities and Exchange Commission might approve the first spot Ethereum ETFs soon1.
Market Sentiments: The crypto market is highly volatile and unpredictable. While stability was observed last month, factors like U.S. inflation and interest rate hikes by the Federal Reserve have impacted the market. BTC and ETH are currently trading at levels significantly lower than their all-time highs, but the sentiment has shifted from fear to greed and neutrality2.
Remember that the crypto market can change rapidly, so staying informed and making careful investment decisions is crucial. 🚀📈
