Despite the US attack on Binance, Bitcoin is going like a rocket. At the time of writing, the price is proudly above $ 28,000 again, but Bitcoin even broke the price of $ 29,000 last night. This means that a new peak for March 2023 is in the books.
No problems with Binance
With the gains, Bitcoin is showing that it is not at all affected by the Commodity Futures Trading Commission’s March 27 attack on Binance and its CEO Changpeng “CZ” Zhao. The price went down for a moment when this news was announced. But now the rises are back in full swing.
Many analysts did not expect this because Binance plays such an important role in the ecosystem. In that respect you would expect it to have much more impact on the price. It may also be that many people expect Binance to get off with a fine.
The Crypto Fear and Greed Index, which reflects the current sentiment in the market based on a score, is slowly growing again. Despite the problems and stress in the banking sector, greed in the crypto world is starting to increase.
Especially Bitcoin
It is striking when we look at the past 24 hours that it is mainly Bitcoin that strikes the clock in the crypto world. While Bitcoin is up 1.92 percent for the last 24 hours, Ethereum has to make do with a drop of 0.74 percent. Thanks to that increase, Bitcoin is at a price of $ 28,600.
Ethereum, on the other hand, has to make do with $1,795. That brings Bitcoin’s market cap to $553 billion and Ethereum’s to $219 billion. Bitcoin is currently more than twice as large as Ethereum.
Anyone who expected Ethereum to overtake Bitcoin soon seems to have come home with a rude awakening. Things can change quickly in this world, but Bitcoin has been number one for 14 years now.