Proactive Investors - Bitcoin and Ethereum both fell in the last 24 hours, but the former has performed stronger than major indices this last month.
Bitcoin, the largest coin by market cap, slipped 2% to US$27,641, although the ‘digital gold’ is still up 12% in the last week.
Yesterday, Bitcoin reached a three-month high when the asset hit US$28,638.
Ethereum, on the other hand, lost 2% to US$1,752, but is also in the black over the seven days, up nearly 6%.
As markets panicked in the wake of the collapse of Silicon Valley Bank (SVB) and UBS’s takeover of fellow Swiss lender Credit Suisse (SIX:CSGN), Bitcoin has gone strong.
Since 10 March, the coin has risen by nearly 37% from US$20,376 to today’s price.
To put this into perspective, only 12 companies in the S&P 500 have achieved higher returns than 35% this year to date.
This means that Bitcoin is outperforming the likes of FedEx, Apple and Amazon.
Among some of the altcoins, XRP shed 1.6% to US$0.44, Solana lost 2.4% to US$21.73 while Litecoin gained 8.2% to US$87.70.