After The Last Bull Market, Bitcoin Has Been Winning More Frequently. 

Although trimming their largest gains from a Tuesday rally, BitcoinBTCUSD +0.41% and other cryptocurrencies remained up on Wednesday, continuing the strongest undefeated run for digital content since the previous bull market.

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Over the previous 24 hours, Bitcoin's price has increased 2% to $24,800. According to Dow Jones Market Data, the largest digital asset has fallen from a recent top of $26,500, which was its greatest level since the crypto crisis intensified last June. But, on Tuesday, it still ended its best four-day streak since February 2021. A recovery to the $25,000 region, after ripping upward from below $20,000 as recently like last weekend, should encourage traders that Bitcoin is once again looking optimistic. Yet it must maintain its victories.

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Naeem Aslam, chief investment officer of Zaye Capital Markets, stated that the price appears to be forming a bearish pattern, suggesting that a top may be emerging for the time being. The price has broken over the $25,000 level, which was a significant resistance zone, and a breaching of this level has allowed the price to re-test its next barrier zone of $30,000, which is reason for celebration for bulls.

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With recent gains in the face of what might appear to be terrible headwinds for the markets for digital assets, Bitcoin has demonstrated just how tightly connected the macro picture is to the crypto attitude.

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The failure of Silvergate Capital and Signature Bank, two of the top U.S. crypto banks, in the last week portends poorly for both token liquidity and regulator sentiment toward digital assets. Prices have increased despite the possibility that the bank failures will have a detrimental effect on how the market functions.

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Ironically, the worst bank collapse since the 2008–2009 financial crisis was caused by federal regulators shutting down Silicon Valley Bank and Signature Bank. This led to the latest surge in cryptocurrency prices. The Federal Reserve's significant interest-rate rises over the past year—a campaign to manage decades-high inflation with strong monetary policy—have had the unexpected effect of putting pressure on banks.

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The demand for danger assets, particularly stocks and cryptocurrencies, is also reduced by higher rates. The bank failures and the positive inflation figures released on Tuesday have caused traders to reassess what they expect the Fed to do with interest rates after its policy-setting committee meeting on March 21–22. The increase in Bitcoin prices was essentially a more severe manifestation of the same attitude that increased the Dow Jones Industrial Average and S&P 500.

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The leading threat asset for the past two years, according to James Lavish, general manager at Bitcoin Opportunity Fund, has been bitcoin. Investors think that the Fed has decided against raising interest rates by 50 basis points starting next week, and that the most that will be raised is 25 points, with no further increases possible. Before any other assets, Bitcoin was able to capitalize on this mood and move to a risk-on position.

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The second-largest cryptocurrency behind Bitcoin, EtherETHUSD -2.78%, increased 2% to $1,700. Cardano gained 1%, while PolygonMATICUSD -2.82% soared 6%, as were other smaller cryptos or altcoins. Shiba InuSHIBUSD -3.57% and DogecoinDOGEUSD -3.49% both increased by 3% and 5%, respectively, as memecoins.

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