Cryptocurrencies stood out this week as bank shares tumbled and the global liquidity crisis rocked the stock market.
For the week ending March 17, bitcoin finished higher by 34%, making it the cryptocurrency's best week since January 2021 — which marked the start of the institution-led bull run that year. Coin Metrics measures a week in crypto, which trades 24 hours a day, from the stock market close one Friday to the next. Bitcoin is now up 62% for the year. BTC.CM=YTD mountain Bitcoin in 2023 Ether ended the week higher by 23%.
"Of course, there are pros and cons to decentralized and centralized approaches, but for now, investors seem to be focusing on one specific angle." However, if the original bitcoin narrative began to click for people this week, it doesn't change the fact that macro themes are still the biggest driver of price. "In practice, bitcoin isn't isolated from the traditional banking system.
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