The cryptocurrencies They operate unevenly this Wednesday, March 22, although with the majority of increases, while they await news on the interest rate from the Federal Reserve that will define the adjustment percentage this afternoon.
Bitcointhe leading cryptocurrency, climbs just 0.1% and remains above $28,000 to reach $28,219. ethereum for its part, it falls 0.6% and moves away from US$1,800 while operating at US$1,796.
This disparity can be seen in the rest of the digital assets: while Binancie lost 3.5%, Ripple jumped 11.5% and Cardano 7.7%.
Cryptocurrencies come from far exceeding the financial collapse unleashed two weeks ago after the fall of Silicon Valley Bank, Signature Bank (an entity linked to crypto) and Credit Suisse, when they became an instrument for value refuge in the middle of the exit massive deposits.
What do analysts expect?
Analysts value the bullish streak they had these days as a sign of the end of the downtrend that they showed in the last months.
“We have seen a significant increase in new Bitcoin open positions on the eToro platform and, to a lesser extent, Ethereum. Last week, the number of new open positions in Bitcoin skyrocketed 78% from the previous week and was 99% higher than the average week of 2023,” he notes. simon petersexpert analyst in crypto assets at eToro in dialogue with Investing.
As Peters explains, “Crypto assets are the best performing asset class this year, with Bitcoin up more than 65% annuallySo retail investors are clearly looking for opportunities where they can find them, especially as stock markets face further turbulence from the ongoing turmoil in the banking sector.
“Inflation has arguably peaked in the US and while some of its components remain sticky, we are starting to see the headline figure decline. As a result, we are seeing the opposite of what happened in 2022. As we approach a terminal interest rate, the pressure on crypto assets eases, making them the best performing asset class so far this year. year,” concludes Peters.
What about Ripple?
The price of Ripple, the sixth crypto by market capitalization, has skyrocketed in the last few hours and has climbed up to 20% in the last few days. This responds to the rumor that Ripple Labs could win a lawsuit against the Securities and Exchange Commission (SEC).
This week Ripple’s lawyers presented a new report to the US Justice based on the ruling against the SEC in the Voyager bankruptcy case and argued that those appointed by Judge Wiles to reject the Commission’s objections regarding the Voyager purchase transaction support many of the arguments that Ripple has made in its own case.
Ripple has argued that the lack of clear guidance from the SEC on navigating securities laws for digital assets has created confusion and uncertainty in the marketplace, making it difficult for participants to understand how to comply with the regulatory requirements set forth by the SEC. regulator.
Source: Ambito
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