Bitcoin (BTC) just broke by $9,000 at 3.30am UTC. The cost recovery far outpaces the Dow Jones Industrial Average, or Dow, one of the mainstream market'southward fundamental barometers.

Since its lesser nigh $3,850 on March thirteen, Bitcoin has pumped more than 130% in price, according to TradingView.com chart data. At its recent high near $24,750, the Dow has only risen approximately 36% since its March 23 low near $xviii,210.

Bitcoin is once again the all-time performing asset in 2022.

All markets fell in March surrounding coronavirus fears

U.Due south. coronavirus prevention measures took over during the first half of March every bit businesses closed and citizens stayed home 'sheltering in identify'. Bitcoin plummeted more than l% betwixt March 12 and xiii, shooting downwardly well-nigh $3,850 on some exchanges

Meanwhile, mainstream markets too dropped massively, including a 10% dive from the Dow. The Dow continued posting a number of subsequent red days following March 12, reaching its well-nigh recent bottom on March 23.

In contrast, March 13 proved itself every bit the about recent lesser for BTC. The asset has carved out a overnice recovery since.

The halving news could also be at play

Every bit mainstream and crypto markets continue recovering, at that place'due south one fundamental driver that may be at the helm of Bitcoins desperate upward thrust — the coin's block advantage halving.

Occurring merely every iv years, Bitcoin'due south halving cuts its inflationary supply in half, essentially leading to less new BTC regularly entering into circulation.

Due in only 12 days, Bitcoin's halving has garnered much word, as previous events ultimately led to subsequent dramatic upward cost activeness.

Many experts have weighed in on the topic in recent weeks, with some explaining the consequence might not play out the same equally previous halvings. Simply time will tell.