Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization, has become the world’s number one asset as per the market capitalization data from the first quarter of 2023. BTC achieved an impressive 71.9%, surpassing all other assets and gaining first place in the report. The price of BTC has surged during this quarter to reach the $30K mark, despite the numerous attempts by U.S. regulators to restrict the activity in the crypto market.

The sudden increase in BTC’s value is connected to the bank crisis in the crypto sector, which provoked distrust among the investors towards the banking system in general. BTC showed its potential and took advantage of the situation, increasing investors peace of mind. This positive quarter-1 performance marks the fourth-best result of BTC, defining a positive trend over the years, as it has never experienced a drop in values after a good first quarter.

Moreover, BTC is seen increasingly more as a non-correlated asset, since its correlations with other investments, such as the U.S. equities, have decreased in recent months. At the time of writing, the trading price of BTC is around $28,256, with the trading volume standing at $17,381,617,731. Both of these figures witness a slight decrease in the last 24 hours, denoting a stable situation in the crypto sector.



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