Bitcoin jumps 6%, verges on $70,000 to start the week

Bitcoin started the last week of March on a strong note, reclaiming the $69,000 level. The flagship cryptocurrency spiked about 6% to $69,778.60, while Ether also surged 5% to $3,575.01. Most other cryptocurrencies followed suit. Bitcoin had experienced a correction phase after reaching an all-time high of $73,797.68 on March 14, but it seems to be bouncing back. The reason for Monday’s surge is unclear, but March has been characterized by new highs and healthy pullbacks. Analysts suggest that investor sentiment may have been influenced by the Federal Reserve’s messaging on potential rate cuts and easing monetary policy. Despite some pullbacks, bitcoin is on track to end March with a gain of 12% and a first-quarter gain of 64%.