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Price analysis 3/20: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

The takeover of the ailing Credit Suisse bank by UBS boosted European equity markets on March 20 but not everyone is happy with the deal. According to Swiss regulator FINMA, the value of additional tier one (AT1) bonds will be written to zero. This move will wipe out $17 billion worth of investments for AT1 bond investors.

Among the turmoil in the global banking sector, Bitcoin (BTC) has shone brightly. That is because traders seem to have shifted their focus to the alternative available to the legacy banking system. Another thing working in favor of Bitcoin is that it has decoupled from the United States equities markets and is behaving as an uncorrelated asset class.

Daily cryptocurrency market performance. Source: Coin360

Bitcoin’s solid rally in the past few days has boosted trader sentiment. The Crypto Fear and Greed Index has soared into the greed zone with a score of 66/100. The next trigger for the markets is the rate hike decision by the Federal Reserve on March 22.

Could Bitcoin reach $30,000 and pull altcoins higher, or is a correction likely in the near term? Let’s study the charts to find out.

S&P 500 index price analysis

The S&P 500 index (SPX) rallied from 3,808 on March 13 and rose above the 200-day simple moving average (3,935) on March 16 but the bulls could not clear the hurdle at the 20-day exponential moving average (3,962).

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Price analysis 3/20: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

Bitcoin continues to trade near $28,000, signaling a strong demand from investors even as the legacy banking system struggles with unprecedented volatility.

Blockchain gaining adoption in more than just DeFi: Report

Blockchain and other distributed ledger technologies are being adopted in many areas beyond DeFi and the metaverse.

GameFi project Gala files $28M lawsuit against pNetwork

The lawsuit stems from a million-dollar exploit in November 2022 that allegedly took place due to a private key leak.

Florida gov and US presidential hopeful calls for CBDC ban

"What the central bank digital currency is all about is surveilling Americans and controlling behavior of Americans," said Ron DeSantis at a 'Big Brother’s Digital Dollar' podium.

FTX debtors file lawsuit against exchange's Bahamian arm on ownership of property

The lawsuit claimed FTX Digital Markets was an "economic nullity" within the FTX Group "created as a front to facilitate a conspiracy to defraud the Debtors’ customers".

Paris Blockchain Week 2023: Latest updates by Cointelegraph

Pre-summit events such as the Talent Fair, the Startup Competition as well as the Investors Day made up the day on March 20 at the Paris Blockchain Week.

How do blockchain forensics and asset tracking work?

Discover the workings of blockchain forensics and asset tracking with real-world examples — e.g., enhance transparency, reduce fraud and improve security.

OKX to cease operations in Canada by June 22 2023

"Withdrawals from OKX will continue to be available," wrote the OKX team in an email to users. ͏ ͏ ͏ ͏

Rattled crypto industry could emerge stronger after USDC depeg

Did the depegging reveal stablecoins’ limitations, or was it a learning moment?

Arbitrum airdrop hype helps zkSync addresses jump over 5X in a week

Airdrops were created as a marketing tool before the ICO era, rewarding traders for promoting the project and holding its token for a certain period of time,

Silicon Valley Bank’s downfall has many causes, but crypto isn’t one

Silicon Valley Bank’s collapse leaves many questioning the role of regulators, instilling fears of another 2008-like financial crisis.

Non-profit to expand DLT adoption through grants of up to $5M

DLT Science Foundation opened its call for grant proposals, offering up to $5 million for eligible individuals or organizations.

Synthetix nets $20M from Web3 quant trading firm

Derivatives liquidity protocol Synthetix seals new partnership with DWF Labs, landing a $20 million investment from the quantitative trading firm.

Crypto.com gets MVP preparatory license from Dubai regulator

After completing the preparatory stage and obtaining the operational license in Dubai, Crypto.com plans to provide a comprehensive range of institutional services in compliance with regulatory requirements.

Crypto.com gets MVP preparatory license from Dubai regulator

After completing the preparatory stage and obtaining the operational license in Dubai, Crypto.com plans to provide a comprehensive range of institutional services in compliance with regulatory requirements.

Accepting Bitcoin at this Norwegian bar during a bull run was almost ‘criminal’

Something to watch out for when accepting Bitcoin at bars and restaurants in Norway: the price per BTC surging.

Will the Fed stop rate hikes? 5 things to know in Bitcoin this week

Bitcoin targets $30,000 as a new week of macro surprises gets going — what might happen next?

Will the Fed stop rate hikes? 5 things to know in Bitcoin this week

Bitcoin (BTC) starts a new week in an unmistakably bullish position as it passes $28,000.

Crypto markets continue to climb on the back of the banking crisis, which still rages in the United States and abroad — where will they go next?

After a week of chaos for macro markets and solid gains as a result, Bitcoin and altcoins are circling levels, which some have not seen for nine months.

The 2022 bear market is feeling like an increasingly distant memory as old resistance levels tumble and bulls attempt to cement newly-reclaimed support.

This week, as last, there are all sorts of potential hurdles to overcome — the Federal Reserve will decide on its next interest rate changes and new macroeconomic data will drop.

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Taiwan watchdog FSC to assume authority on crypto regulation

Taiwanese lawmakers reportedly expect to finalize a crypto regulatory framework by the end of March or April at the earliest.

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