{"id":75402,"date":"2023-03-13T09:40:42","date_gmt":"2023-03-13T07:40:42","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75402"},"modified":"2025-09-10T11:28:28","modified_gmt":"2025-09-10T08:28:28","slug":"bitcoin-climbs-above-24000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-climbs-above-24000\/","title":{"rendered":"Bitcoin climbs above $24,000"},"content":{"rendered":"<p>In the early hours of March 13, the price of the leading cryptocurrency rose sharply from about $20,280 to briefly above $22,670.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">13 March 2023 | 17:48<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>After the US market opened <a href=\"https:\/\/t.me\/forklog\/30172\" title=\"\">\u043d\u0430\u0431\u043b\u044e\u0434\u0430\u0435\u0442\u0441\u044f<\/a> a significant sell-off in bank-sector equities. Bitcoin reacted by moving above $23,500.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"578\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_17-49-37-1024x578.png\" alt=\"BTCUSD_2023-03-13_17-49-37\" class=\"wp-image-200391\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_17-49-37-1024x578.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_17-49-37-300x169.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_17-49-37-768x434.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_17-49-37.png 1504w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly chart of BTC\/USD on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">13 March 2023 | 18:07<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>The price of the leading cryptocurrency exceeded the $24,000 mark on the Binance exchange.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"517\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_18-07-39-1024x517.png\" alt=\"BTCUSD_2023-03-13_18-07-39\" class=\"wp-image-200401\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_18-07-39-1024x517.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_18-07-39-300x151.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_18-07-39-768x387.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_18-07-39-1536x775.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_18-07-39.png 1683w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption><meta http-equiv=\"content-type\" content=\"text\/html; charset=utf-8\">Hourly chart of BTC\/USD on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<\/div>\n<\/div>\n<p>Over the last 24 hours the asset rose by 9.2% (<a href=\"https:\/\/www.coingecko.com\/\">CoinGecko<\/a>), with the current price at $22,290. As shown in the chart below, the rise was accompanied by a surge in trading volume.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"575\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_09-33-51-1024x575.png\" alt=\"BTCUSD_2023-03-13_09-33-51\" class=\"wp-image-200283\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_09-33-51-1024x575.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_09-33-51-300x168.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_09-33-51-768x431.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/BTCUSD_2023-03-13_09-33-51.png 1513w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly chart of BTC\/USD on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>In the same period the second-largest cryptocurrency by market cap gained 9.3%. At the time of writing Ethereum trades above $1,600.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"531\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSD_2023-03-13_09-34-00-1024x531.png\" alt=\"ETHUSD_2023-03-13_09-34-00\" class=\"wp-image-200284\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSD_2023-03-13_09-34-00-1024x531.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSD_2023-03-13_09-34-00-300x156.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSD_2023-03-13_09-34-00-768x398.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/ETHUSD_2023-03-13_09-34-00.png 1513w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly chart of ETH\/USD on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/ETHUSD\/?exchange=BINANCE\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Following the leaders, assets in the top-10 by market cap turned green, with the exception of USDT. Cardano (ADA) registered the largest gain \u2014 10.4% over the last 24 hours. <a href=\"https:\/\/u1f987.com\/en\/news\/usdc-loses-peg-to-the-dollar-amid-svb-collapse\">Having lost<\/a> the peg to the US dollar, the stablecoin USDC regained parity.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"544\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2023-03-13-v-09.34.44-1024x544.png\" alt=\"Snimok-ekrana-2023-03-13-v-09.34.44\" class=\"wp-image-200285\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2023-03-13-v-09.34.44-1024x544.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2023-03-13-v-09.34.44-300x159.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2023-03-13-v-09.34.44-768x408.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2023-03-13-v-09.34.44.png 1145w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: CoinGecko.<\/figcaption><\/figure>\n<p>Total market capitalization surpassed $1 trillion. Bitcoin dominance index stood at 40.7%, Ethereum at 18.2%.<\/p>\n<p>According to <a href=\"https:\/\/www.coinglass.com\/LiquidationData\" title=\"\">Coinglass<\/a>, over the last 24 hours liquidations on the futures market reached $215 million.<\/p>\n<p>On March 10, the first cryptocurrency <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-tests-below-20000\">tested<\/a> below $20,000 amid news of the <a href=\"https:\/\/u1f987.com\/en\/news\/silvergate-to-liquidate-silvergate-bank\">liquidation<\/a> of Silvergate Bank. Market conditions were further complicated by problems at Silicon Valley Bank (SVB) \u2014 on the same day the California Department of Financial Protection and Innovation <a href=\"https:\/\/u1f987.com\/en\/news\/venture-capital-investors-distance-themselves-from-silicon-valley-bank-amid-liquidity-concerns\">closed<\/a> the institution due to \u201cinsufficient liquidity and insolvency\u201d and appointed the <span data-descr=\"Federal Deposit Insurance Corporation (FDIC)\" class=\"old_tooltip\">FDIC<\/span> as administrator.<\/p>\n<p>SVB\u2019s troubles strained its clients, among them Circle. On March 11 the company said it held part of its reserve assets there ($3.3 billion), but the next day <a href=\"https:\/\/u1f987.com\/en\/news\/circle-promises-to-cover-any-shortfall-in-backing-for-usdc\">promised<\/a> to cover \u201cany shortfall\u201d in reserves.<\/p>\n<p>Because of the peg disruption, USD Coin\u2019s peg to the dollar, and algorithmic stablecoins that used the asset as collateral for issuance also lost their pegs. In particular, <a href=\"https:\/\/u1f987.com\/en\/news\/algorithmic-dai-and-frax-lose-peg-to-the-us-dollar-following-usdc\">lost<\/a> their pegs for DAI and FRAX.<\/p>\n<p>On March 12, the U.S. Treasury, the <span data-descr=\"Federal Reserve System (the Fed)\" class=\"old_tooltip\">\u0424\u0420\u0421<\/span> and FDIC <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/pressreleases\/monetary20230312b.htm\">issued<\/a> a joint statement on measures to support the banking system. The agencies said depositors of Silicon Valley Bank and another bank closed by authorities \u2014 Signature Bank \u2014 would be fully reimbursed.<\/p>\n<p>In what followed, the MakerDAO community <a href=\"https:\/\/u1f987.com\/en\/news\/makerdao-to-adjust-protocol-parameters-to-limit-usdc-problems-impact-on-dai\">decided<\/a> to adjust protocol parameters to limit the impact of USDC on its project. The measure entails reducing the maximum amount of DAI that can be borrowed against a given collateral.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the early hours of March 13, the price of the leading cryptocurrency rose sharply from about $20,280 to briefly above $22,670.<\/p>\n","protected":false},"author":1,"featured_media":75403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,480],"class_list":["post-75402","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-bitcoin-price"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75402"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75402\/revisions"}],"predecessor-version":[{"id":75404,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75402\/revisions\/75404"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75403"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}