Bitcoin and the number of substitutes seem to ignore the turmoil triggered by US banks that have been stirring up the financial markets for days. They gained ground on Wednesday, March 15, 2023. According to observers, this immunity is likely to be of short duration.

The cryptocurrency queen was trading around 24,585 dollars, up 11% on a weekly basis at midday on Wednesday. Its price had even crossed the $26,000 mark the day before and reached its highest level since last summer when it plunged below the $20,000 threshold last weekend. The volume increased from 56 billion to nearly 481 billion in terms of market capitalization. According to Swissquote analyst Ipek Ozkardeskaya, “bitcoin and many other risky assets seem to be reacting to the sudden reversal in Fed rate hike expectations.”