How much is bitcoin and dollar worth?

SAFAKNA TURKEY – Cryptocurrency exchange has begun to recover. Bitcoin surged to $22,455, removing all of the losses it has taken in the past week. The bankruptcy of Silicon Valley Bank, which was recorded as the largest banking failure in the US since the 2008 crisis, affected Circle, the second largest fixed crypto asset in the crypto market, the issuer of USDC. Circle’s announcement that it had $3.3 billion in the bank sent the markets into a panic, with the cryptocurrency losing stability at $1 and dropping to the $0.8 range due to heavy USDC selling during hours when banks were closed during weekend. transactions. Circle said in a statement that there was a temporary liquidity problem as banks were closed for the weekend and committed to USDC stability earlier in the week. After this announcement, USDC began to rise, and in the first hours of the week, crypto money again reached the stability of $1. So why is bitcoin going up? How much is a bitcoin, how much is a dollar?

Why is bitcoin rising?

Recent bankruptcies have heightened expectations that the Fed will raise interest rates by 25 basis points instead of 50 on March 22.

Earlier, Fed Chairman Jerome Powell said in a speech to the Senate Banking Committee that the Fed could raise interest rates faster and faster than expected to curb inflation.

Circle also announced that USDC operations are back on track and that it has partnered with Cross River Bank as part of its commitment to expand its banking partners.

Following this statement from Circle, Bitcoin is up 8.7% on the day to $22,455 this morning.

Ethereum added 7.9% to $1605, Binance Coin – 7.4%,

Cardano (ADA) rose by 10%, Polygon by 6.7%, Dogecoin by 5.4% and Solana by 8.7%.