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Bitcoin Rejected At $60K While Global Markets Start To Splutter: The Weekly Crypto Recap

This week was tough across the board as both cryptocurrencies and legacy markets took a beating. Bitcoin was rejected at $60K and dropped all the way down to $50K, but, fortunately, it found support and is now attempting a recovery.
The cryptocurrency started the week trading at around $59K and took a shot at the coveted $60,000 mark but failed. It was all downhill from there as BTC retraced all the way down to $50,000 before finding serious support and bouncing back to where it’s currently sitting at around $54K.
It’s worth noting that on March 24th, Elon Musk announced that people can now buy Teslas with BTC, which sent the price soaring. Unfortunately, the rally was unsustainable, and the retrace was swift.
Legacy markets also took a hit. The S&P 500 managed to recover roughly to where it was trading on Monday, but things are looking gloomier with NASDAQ. The index is down almost 3 percent this week.
It’s also worth pointing out that one of the most influential financial institutions – the multinational investment bank Goldman Sachs, filed for a Bitcoin ETF. The same was done by one of the largest asset managers, Fidelity. It seems that institutions are trying to cater to the soaring interest in cryptocurrency.
Elsewhere, Uniswap finally revealed specifications for its v3 upgrade. It’s supposedly going to turn it into the most flexible and capital-efficient automated market maker.
In any case, this week’s show was stolen by Theta. The token soared by around 50% …
Story continues on Crypto Potato

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