BTC Rejected at $74K Amid Rising Middle East Tensions, BlackRock’s ETHB Debuts: Weekly Recap

It was another eventful week, with the headlines strongly focused on the quickly developing (and, in most cases, worsening) situation in the Middle East as both sides continue to hit each other, or allies. In the meantime, the ever-volatile cryptocurrency industry responds to almost all new developments. Bitcoin, for example, started the week on the wrong foot, slipping from $68,000 on Sunday to a multi-day low of $65,600 when almost all financial markets opened for trading after the strikes and statements during the weekend. However, the bulls were quick to intervene and didn’t allow further decline. Instead, BTC began its gradual recovery, which saw it near $70,000 by Wednesday. After the initial rejection, the bulls stepped up and pushed the asset to almost $72,000. It faced more resistance at this level and returned to $69,000 when the US CPI numbers came out later that day. Although expectations and reality met, BTC remained relatively calm at first, but jumped by nearly two grand later on after Trump said there’s “practically nothing left to target” in Iran. Following another volatile session around $70,000, the cryptocurrency went on the offensive on Friday after the release of the US PCE data for January. which showed a 0.3% MoM increase, and a 2.8% YoY rise. Bitcoin tapped $74,000 for the second time in the past 10 days, but it was stopped once again and driven south by over two grand. Nevertheless, it’s still 6% up weekly, similar to BNB, XRP, and SOL. Ethereum has added almost 10% in the past seven days, while HYPE has exploded by 23%. Market Data Cryptocurrency Market Overview Weekly Mar 13. Source: QuantifyCrypto Market Cap: $2.52T | 24H Vol: $138B | BTC Dominance: 56.9% BTC: $71,700 (+6.1%) | ETH: $2,130 (+9.3%) | XRP: $1.4 (+5%) This Week’s Crypto Headlines You Can’t Miss BlackRock Staked Ethereum ETF Sees $15.5M First-Day Volume. Perhaps the most significant piece of industry news this week came from the world’s largest asset manager. BlackRock de...