Crypto Weekly (11/03 – 17/03): Bitcoin Undergoes Significant Correction

The crypto market last week witnessed a significant correction in Bitcoin, while Ethereum successfully completed the Dencun upgrade. So, what were the highlights of the week? Let's recap together!

Azcnews Breaking

Last Week in Crypto Market

After surpassing the all-time high and reaching a historic peak at 73600, the price of Bitcoin underwent a significant correction last weekend. Bitcoin dropped to 64700 (equivalent to a correction of about 12% from the peak), although there weren’t many clear reasons for this price decline.

It could be seen as a corrective phase to prepare for further growth, as large funds continue to buy into Bitcoin. Currently, the price of Bitcoin is hovering around 67500.

Chart Btc
Chart Btc

Also, during the past week, Ethereum witnessed a major event as it successfully completed the “Dencun” upgrade on March 13th. This is considered a significant milestone for Ethereum, with layer-2 networks on this platform showing a significant decrease in transaction fees.

However, following this upgrade, Ethereum also experienced a sharp correction, dropping from 4100 to 3400 (equivalent to a 17% correction from the peak).

Chart Eth
Chart Eth

Once again, the cryptocurrency market had to acknowledge the allure of a new memecoin, which achieved a considerable market capitalization within just three days of its inception. Following Bonk and Wif, Boof of Meme (BOME) became the third memecoin on the Solana ecosystem to be listed on Binance.

Top 10 Coins with the Strongest Performance Last Week

Increase Crypto

Coinmarketcap

Top 10 Coins with the Biggest Declines Last Week

Decrease

Coinmarketcap

Key Highlights of the Week

Important news for this week includes:

  • Wednesday (20/03/2024), at 18:00 (UTC), the Fed will decide on the interest rate. Forecasts suggest the interest rate will be kept unchanged at 5.5%.
  • Thursday (21/03/2024), at 12:30 (UTC), data on Initial Jobless Claims will be released. Higher-than-expected data is usually considered negative for the USD, and vice versa.
  • Friday (22/03/2024), at 13:00, Fed Chair Jerome Powell will deliver a speech, providing important insights into future monetary policy.

4.8/5

(5 votes)
  1. Avatar of Ashok Dubey
    Ashok Dubey

    Very nice

  2. Avatar of Paul Ekegwu
    Paul Ekegwu

    This is very pleasing to hear

  3. Avatar of Creare cont Binance
    Creare cont Binance

    Thanks for sharing. I read many of your blog posts, cool, your blog is very good.

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

Azcnews Okx Launches $10 Million Telegram Growth Hub

News | Editor Choice | Policy & Regulations

OKX Launches $10 Million Telegram Growth Hub

OKX Launches $10 Million Telegram Growth Hub in Partnership with The Open Platform and Folius Ventures

Deposit 10 Usdt, Earn 10 Usdt Bonus On Bingx

Airdrops | Editor Choice

Deposit 10 USDT, Earn 10 USDT Bonus on BingX

Join and receive an attractive reward on the BingX exchange - deposit 10 USDT and get 10 USDT instantly for all users.

Azcnews Bitcoin Nears All Time High With Strong Positive Signals

News | Analytics | Bitcoin | Editor Choice

Bitcoin Nears All-Time High with Strong Positive Signals

Bitcoin is about to surpass its all-time high, with positive signs suggesting the rally could continue.

What Is Goat Memecoin Information About Goat Token

Editor Choice | Research

What is GOAT Memecoin? Information about GOAT Token

GOAT (Goatseus Maximus) is a memecoin on the Solana blockchain that combines memes and AI technology. It operates by automatically posting content and responding to comments on the X platform (formerly known as Twitter). This memecoin has been listed on major cryptocurrency exchanges such as Gate.io and Bitget, allowing traders to buy and sell it. Additionally, investors can trade GOAT futures contracts on Binance.

How To Participate In Piggypiggy Airdrop

Airdrops | Editor Choice

How to Participate in PiggyPiggy Airdrop

Join the PiggyPiggy Airdrop on Telegram, a project developed building on the success of Notcoin. PiggyPiggy has confirmed that 65% of the total token supply will be allocated for the airdrop. The project has also announced that the token's listing date is set for November 12th.