cryptocurrency market cap was about $1.24 trillion bitcoin price Reclaimed the $28,500 level, with the crypto set to end the first quarter of 2023. BTC price is up 24% in the last 30 days and 83% year-to-date.
crypto analyst Rekt Capital They say Bitcoin is poised for a historic quarterly close, which could signal upward momentum over the next several months.
#B T c Is on the verge of confirming its first quarterly bullish engulfing candle since early 2020
Historically, quarterly bullish engulfing candles have performed to the upside over several quarters.$BTC #crypto #bitcoin pic.twitter.com/Hyeew5HCy0
— Rekt Capital (@rektcapital) March 31, 2023
Meanwhile, the bullish momentum over the past three months has seen Ethereum price jump nearly 64% YTD. ETH will move 15% higher in March with a daily close at current prices. The outlook for most top altcoins is similar, with XRP, Binance Coin (BNB), Polygon (MATIC) and Cardano (ADA) all set to expire Q1, 2023.
Bitcoin and Tech Stocks Higher YTD
While the US stock market opened higher on Friday with equities impacted by the latest economic data, tech stocks capped overall gains against bitcoin. For example, the S&P 500 was up 6.75% YTD at 11:30 a.m. ET, the Dow Jones Industrial Average was down 0.4% during the period and the tech-heavy Nasdaq Composite was up 16.7%.
However, bitcoin and some tech stocks have outperformed most other assets this quarter. As mentioned above, BTC/USD is up 83% year-to-date and is likely to close the quarter with gains of over 80%. Tesla (TSLA) was up 86% at the time of writing, while Meta Platforms (META) was up +63% YTD.
Apple (AAPL) stock was up +30% YTD on Friday, while Amazon (AMZN) gained more than 20% on the quarter.