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The Bitcoin market has surged 16% in March, aligning with its historical monthly average of 17%. The resilience of Bitcoin prices amid market turbulence suggests underlying strength, especially as GBTC (Grayscale Bitcoin Trust) appears to be unwinding, freeing Bitcoin for supply and pushing prices higher.
The crypto ecosystem continues to expand rapidly, with market cap doubling over the past 23 weeks, user growth nearly doubling, and transaction volumes skyrocketing. These indicators reflect a booming phase in the crypto bull market, especially in DeFi and NFT sectors.