The bitcoin (BTC) price briefly surpassed $29,000 on March 30, recording a new year-highdespite recent US regulatory actions against crypto companies and related uncertainty.
According to Cointelegraph Markets Pro, bitcoin price hit $29,132.82 on March 30, reaching levels seen just before crypto exchange FTX crashed in early November 2022.
The increase comes despite a series of regulatory actions in recent dayssuch as the United States Commodity Futures Trading Commission lawsuit against Binance and its CEO Changpeng “CZ” Zhao on March 27.
The rebound in the bitcoin price after this bombshell has surprised many industry commentators. Some believe this is due to speculation that the lawsuit will only result in minor fines for the leading crypto exchange. by volume of transactions.
The Cryptocurrency Fear and Greed Index -which aims to present numerically the current “emotions and feelings” towards bitcoin and other major cryptocurrencies- has risen steadily over the past month, despite wobbles in the global banking sector.
Some traders have argued that recent price rallies may have been due to buy-backs by high-volume traders.more related to their buying strategies than fundamentals.
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