Forex Analysis

Since the end of November 2022, Bitcoin has gained around 80% of its market cap, hitting the $28 000 level. The largest part of this movement started on March 10, when the Fed announced an additional liquidity injection to save the country's banking system. 

There is no denying that March has certainly started off with a bang – bringing with it a series of highly lucrative money making opportunities from re-accelerating inflation.

With cracks appearing in the US banking system, markets think there’s a chance the Fed won’t raise rates next week. The most likely outcome is a rate increase accompanied by high rate projections

The US Federal Reserve is expected to raise interest rates while facing the tough task of tackling the banking crisis. Economists expect the central bank to increase its target rate range to 4.75% -5%, although there is a debate as some believe the Fed will not raise its rates at all. Bitcoin price rally steadied above the $28,000 level after yielding nearly 15% gains over the past week.

Aptos price lacks directional bias as it consolidates below a critical hurdle. This level is key in determining where APT will head next. Investors need to wait for confirmation before making their decision. Aptos price rallied 554% between December 30, 2022, and January 26, 2023. This massive uptrend set up a local top at $20.40, resulting in a reversal that pushed APT down by 52%. 

While large market capitalization assets Bitcoin and Ethereum hold steady, altcoins like Cardano and XRP have yielded double-digit gains overnight. Crypto experts believe Bitcoin’s rising dominance signals the popcorn effect is close, gains will continue spilling over in altcoins like Cardano (ADA) , XRP and Cosmos Hub’s ATOM.