Crypto Weekly
March 25, 2022

Bitcoin hype spikes as bull signals emerge and altcoins make a move

The Week in Crypto High level Bitcoin hype flourished this week in response to major events in regulation and mining, with bull indicators and plenty of FUD in the mix.

  • Exxon doubles down on BTC mining
  • Countries everywhere look at crypto regs
  • Rubles vs. Fiat
  • NFT giant raises $450 million

Movers and Shakers

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Bitcoin


On Thursday, Bitcoin (BTC) had climbed to its highest level since March 3rd, posting 3 straight days of gains while trending above the 20-day moving average for much of the week. BTC/USD closed out the week +7.42% and with a new hash rate all-time-high to signal network strength.

BTC_USDT_5_Day_20_Week_Moving_Average
BTC-USDT Trending Above 20-Week Moving Average

  • Bitcoin’s rise follows a recent breakout of the $42,500 resistance level.
  • With Bitcoin ranging in an ascending triangle pattern, analysts suggest we could see a massive BTC pump in the coming weeks, and a subsequent altcoin season.
  • Bitcoin difficulty has tapered after a steady accumulation phase since mid-July 2021, signaling a trend of less competition (and more potential profit) for retail miners.
BTC_Difficulty_Chart
Bitcoin Mining Difficulty

Altcoins


Ethereum (ETH) recaptured and held the $3000 level for a 5-week high and the 14-Day RSI Ceiling of 59.73 was broken through for the first time since Feb 9th.

ADA_USDT_Surge_Staking_on_Coinbase
ADA Reacts to Staking News

  • Terra Blockchain purchased its first $125 million of BTC for its UST stablecoin reserves. Terra announced they would be creating a Bitcoin reserve of $11 billion in total, marking an historic stablecoin migration from pegging to fiat currencies to Bitcoin.

Get Ready for DEX Trading at Quadency!

Bitcoin


On Thursday, Bitcoin (BTC) had climbed to its highest level since March 3rd, posting 3 straight days of gains while trending above the 20-day moving average for much of the week. BTC/USD closed out the week +7.42% and with a new hash rate all-time-high to signal network strength.

BTC_USDT_5_Day_20_Week_Moving_Average
BTC-USDT Trending Above 20-Week Moving Average

  • Bitcoin’s rise follows a recent breakout of the $42,500 resistance level.
  • With Bitcoin ranging in an ascending triangle pattern, analysts suggest we could see a massive BTC pump in the coming weeks, and a subsequent altcoin season.
  • Bitcoin difficulty has tapered after a steady accumulation phase since mid-July 2021, signaling a trend of less competition (and more potential profit) for retail miners.
BTC_Difficulty_Chart
Bitcoin Mining Difficulty

Altcoins


Ethereum (ETH) recaptured and held the $3000 level for a 5-week high and the 14-Day RSI Ceiling of 59.73 was broken through for the first time since Feb 9th.

ADA_USDT_Surge_Staking_on_Coinbase
ADA Reacts to Staking News

  • Terra Blockchain purchased its first $125 million of BTC for its UST stablecoin reserves. Terra announced they would be creating a Bitcoin reserve of $11 billion in total, marking an historic stablecoin migration from pegging to fiat currencies to Bitcoin.

Get Ready for DEX Trading at Quadency!

Newsworthy

  • Bored Ape Yacht Club Creator Yuga Labs raised $450 million at $4 billion valuation to build an NFT Metaverse. Read more.
  • Bitcoin 2022 Miami Conference has a roster that is heating up. Slated for April 6th-9th, the all-star lineup includes Michael Saylor, Jack Maller, and Cathie Wood. Read more.
  • Cashio algorithmic stablecoin suffered an “infinite mint glitch” exploit, which drained $28 million from Cashio’s TVL (total value locked). Read more.

Focus on: QUAD Liquidity Rewards Program

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  • Choose from QUAD/ETH and QUAD/USDC pools

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Quadency is a cryptocurrency portfolio management platform that aggregates digital asset exchanges into one easy-to-use interface for traders and investors of all skill levels. Users access simplified automated bot strategies and a 360 portfolio view with a free account.

Disclaimer: The content of this article is for general market education and commentary and is not intended to serve as financial, investment, or any other type of advice.

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