Bitcoin (BTC) jumped over $100 as Wall Street opened on March 24, markets broadly gaining amid hope of the United States agreeing a $2 trillion coronavirus rescue package.

Cryptocurrency market daily overview

Cryptocurrency market daily overview. Source: Coin360

BTC toll steadies as stocks bounce

Information from Coin360 and Cointelegraph Markets showed BTC/USD circumvoluted $vi,700 at printing time on Tuesday — upward 7% on the twenty-four hours.

Stock markets reversed Monday'south losses — the Dow Jones opened upward half dozen.1%, while the S&P 500 was 5.3% college.

Bitcoin 1-day price chart

Bitcoin i-day cost chart. Source: Coin360

The week had begun with turmoil as the U.Due south.'s ii major political parties repeatedly blocked an aid package that aims to bail out the faltering economy. Overnight, however, Treasury Secretary Steven Mnuchin said that talks had seen "a lot of progress."

At the same time, G7 finance ministers issued a joint statement pledging to practice "any is necessary" to protect the international financial organization.

As Cointelegraph reported, however, compensating losses in the form of "unlimited" coin printing is causing alarm bells to ring for some.

Commenting on the Federal Reserve's liquidity drive, Wall Street veteran Caitlin Long argued that "the concluding vestige of commercialism died in the U.S."

"Fed'south monetization The states debt is now unlimited," she tweeted on Monday.

"Nationalization of US capital mkts-a procedure started in 1968-is now consummate. This upshot was predictable (virus was just trigger). Fed rest sheet tops $10trn this wk."

Filbfilb: "It'due south hard to be overall bullish"

Bitcoin traders meanwhile remained firmly adventure-averse. Cointelegraph Markets analyst filbfilb said that he was fully in cash while waiting for a stronger close.

"Technically it's difficult to be overall bullish while we remain below the 100 and 20 WMAs," he told subscribers of his Telegram trading channel.

"Reasonable change we will see a pull back, but should on-remainder volume break to the upside on the daily I will encounter it equally a sign of force."

Bitcoin was up xxx% versus the same time last week, its gains having reduced its year-to-date losses to just vi.9%.

Keep track of top crypto markets in real time here