The expert explained the growth of bitcoin by a combination of market and macroeconomic factors.

The growth of bitcoin is associated with the simultaneous impact of several factors at once, both within the crypto market and in the global economy. Alexander Schneiderman, head of Alfa-Forex's Customer Support and Sales department, told Izvestia on March 13.

According to him, one of the key catalysts was the emergence of a new investment instrument in the cryptocurrency market.

"The main driver is the launch of a spot ETF on Ethereum from BlackRock with integrated staking. The institutional money that enters this product is not limited to buying ether and is actually heating up the entire crypto market, including bitcoin," the expert noted.

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An additional factor, he said, was the recovery of futures on U.S. stock indexes, which increased investor interest in risky assets. After the recent decline in the bitcoin exchange rate to around $60,000, the market was looking for a reason to return to higher levels.

Schneiderman added that the global macroeconomic situation also affects the dynamics of cryptocurrencies. Among the factors, the expert highlighted the closure of the Strait of Hormuz, rising oil prices and uncertainty in US monetary policy.

"When the fiat system is under stress, some market participants begin to see crypto as a hedge comparable to gold. This is exactly what we observed yesterday and are observing today. Bitcoin surged on Thursday as traditional risky assets fell. Today's level of $73,247 is a move towards the key technical resistance of $74,050. A breakdown and a close above it at the end of the week will be a real signal for the market and the opening of the road to $ 77 thousand," the expert concluded.

Alexander Baryshnikov, manager of the Mining fund at Record Capital Management Company, told Izvestia on March 2 that Iran's attacks on American bases in the Middle East had increased uncertainty and put pressure on risky assets. Stock index futures lost more than 1%, and investors began actively redistributing funds into defensive instruments, including gold and oil. Bitcoin ended the week down just 2.76%.

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