Cryptocurrency Market Overview

Cryptocurrency market review

Yesterday there was a sharp decline in almost all altcoins, but Bitcoin held its levels. If you look at the macroeconomic indicators, there is a lot of negativity, with concerns about the bankruptcy of Credit Suisse (which will of course be rescued), the bankruptcy of regional banks in the United States, the possibility of an increase in the Federal Reserve’s interest rate by 0.25% in March, and a gradual closing of the door for cryptocurrencies in the American banking system.

The positive aspect is that the Federal Reserve will make adjustments to its policy after the collapse of the US banking system.


Today there were weekly jobless claims in the United States, and the data was excellent, which is bad for the market, as it is another argument for the Federal Reserve to raise rates. At 16:15 there will be an announcement regarding changes to the ECB rate, but volatility will likely be due to the opening of the US market rather than the rate decision. Cryptocurrencies react weakly to the ECB rate.

Base Scenario

After such a candlestick on Tuesday, it is still difficult to believe in further growth of Bitcoin. I would now be looking for new short opportunities.

The views expressed in this article are solely those of the author and should not be construed as official statements or representing the views of the company. The author is solely responsible for any errors or omissions in the information provided. The information contained in this article is provided for informational purposes only and is not intended to be investment or professional advice.