The cryptocurrency market digest (BTC, USDT). Overview for 24.03.2023


On Friday, the BTC grew to 28,302 USD. The weekly growth amounted to 9.66%.

Coinbase issues that were making investors anxious this week, have faded into background. The same has happened to the anxiety about the claims to the TRON creator Justin Sun. As soon as the US stock market moods stabilised, crypto bulls returned to purchases immediately. Correlation between the S&P 500 and Nasdaq indices - and the BTC remains considerable. To go on growing, the BTC needs to secure above 28,300 USD. The realistic target is still 35,000 USD.

The capitalisation of the crypto market has risen to 1.183 trillion USD. The BTC share has secured at 46.2%. The ETH takes up 18.7%.

Commission for creating BTC-based NFTs turned out record high

Commission fees paid for creating NFTs on the BTC blockchain set a record yesterday. The main reason for such flourishing of commissions became the creation of the Bored Ape Yacht Club NFT collection in the BTC network.

Difficulty of BTC mining grew again

The difficulty of mining the leading crypto grew by 7.56% after new recalculations. It reached 46.84 T. Average hashrate amounted to 335.23 EH/s.

USDT enjoys demand because of banking crisis

After the investing world faced trouble around the banking sector, investors turned to crypto, especially the USDT. The market capitalisation of the token hit its 11-month peak of 77 billion USD.


Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.