The trading price of Bitcoin has recorded a significant push in a single day. This has happened as the US Feds have announced that they have injected $300 billion back into the US banks.
Since the US regulatory crackdown, the situation had been dire for banking firms. The Feds have helped fix the problem by supporting the sector in returning the funds back to the depositors they had confiscated.
The regulator had confiscated the funds belonging to the Signature Bank and the Silicon Valley Bank. This has helped bring back support to the entire crypto industry.
Bitcoin and Altcoin Prices have Surge
The latest market data shows that the trading price of Bitcoin has added $2,000 in its trading value in a matter of a day.
The altcoins have also demonstrated significant gains in the latest session. All the tokens have recorded huge gains and have moved into the green zones today.
The trading price of ETH has recorded a huge surge and after that, its trading price has surged over $1,700.
Other cryptocurrencies have also demonstrated strong gains as their trading prices have surged as well. All major assets such as DOT, DOGE, MATIC, and BNB have recorded more than 5% gains.
Bitcoin made it above $26k
The entire crypto market has been through a lot in a matter of a week. It is trying to recover from the losses and things are turning out fine for the entire sector.
The past seven days have been quite prominent and promising for the entire industry. Just last Friday, Bitcoin had been finding it difficult to make it above the $20k barrier.
The entire crypto market continued facing a decline due to the happenings in the US banking sector. Finally, as the US Feds made announcements in favor of the banks, confidence returned to the crypto market.
Investors now afraid of the banking systems are eager to increase their investments in cryptocurrencies. This is why a great influx of investments was recorded into Bitcoin in the latest sessions.
Since the weekend, the trading price of Bitcoin has overcome multiple milestones. At first, BTC crossed $20k, then went on to surge past the $21.5k barrier.
From there, the asset’s value kept climbing and it successfully made it past the $22k barrier. Since then, the value of the asset continued rising as it successfully rose to above $24k.
As of yesterday, the banks have returned funds to the banking firms, which has brought back more confidence in the crypto investors.
Due to the recent developments, BTC’s trading price has surged over $26k. This goes to show that in a matter of a week, the asset’s price has surged more than 10%.