Yet the buying party came to an abrupt end when the highly-anticipated Coinbase listing failed to push prices even higher. Euphoria turned to fear as traders sold the news, prompting Bitcoin to plunge 15% before bouncing.
Wall Street hits double-digit return
While Bitcoin and Ethereum are resting at the key milestones of $60K and $2k respectively, smaller altcoins are darting ahead, pushing the total crypto market cap beyond $2 trillion for the first time.
BNB is the biggest winner of the week with 50% gains, making the market cap of the coin more than $60 billion, bigger than traditional banks including Santander. Close behind, other altcoins have also made big gains, with Zcash, Litecoin, and IOTA all boasting a 16% increase.
Wall Street lifted by job data
Wall Street ends Q1 on a positive note
Prices began rising on Wednesday as the market was uplifted by crypto-themed April Fool’s pranks. The Teletubbies tweeted about Bitcoin to advertise their own imaginary cryptocurrency TubbyCoin, and long-term critic Peter Schiff briefly admitted that he was wrong about the cryptoasset.
Bitcoin is navigating choppy seas, with waves of conflicting sentiment rocking the market below the critical high watermark of $60K.
Prices sank to lows of $50K early in the week on mixed headlines. Two top-tier Wall Street banks announced they were filing for Bitcoin ETFs, while Ray Dalio warned that in “a certain set of circumstances’’ the cryptoasset could be banned in the U.S.
Wall Street finishes in the green
As Americans celebrated Saint Patrick’s Day with a feast of $1,400 stimulus checks, the crypto market turned a fitting shade of green.
Prices surpassed $60K early in the week, with two out of five stimulus checks landing in the crypto market, according to a recent survey. This influx of funds was matched by growing institutional interest, with Morgan Stanley announcing three Bitcoin investment products to meet growing demand.
Wall Street turns red after all-time highs