As bank failures in the United States reveal the limitations of the fractional reserve banking system, investors are turning to Bitcoin as a safe-haven asset. According to CoinDesk, Matrixport’s analysis indicates that American buyers are leading the charge, driving a 40% surge in just ten days. U.S. trading hours play a significant role in Bitcoin’s bullish pressure.
The recent spate of bank failures in the United States has brought to light the fundamental limitations of the fractional reserve banking system. As a result, many investors are turning to Bitcoin (BTC) as a safe haven asset. According to a recent analysis by Matrixport, an innovative crypto services provider, American buyers are leading the charge in the bid for this digital currency. Bitcoin has surged by over 40% in just ten days, reaching a nine-month high above $28,000. Since the dip on March 10th, BTC has rallied by an impressive +44%, with +31% of that gain.