March Recap Report: Banks and Fed Cause a Worry, But Bitcoin Surges in a Hurry

Crypto markets were inconsistent for the first dozen or so days of March as Silicon Valley Bank and the banking sector in general put quite a scare into essentially all investment markets. Uncertain economic conditions and interest rate hikes had already been a familiar theme throughout 2022, a rough bear market for most traders to go through.

We can see quite clearly how the frequency of discussions related to banks and banking spiked massively between March 8th through 14th, and have slowly fallen back to earth as the news has become baked in and replaced with more fresh stories.

So what was the turning point in the above BTC price chart around March 12th? Well, a disguised benefit to the various banking collapses going on at the beginning of the month was the fact that the Fed began alluding to

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