Битцоин (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets.
Bad news holds Bitcoin back
Подаци из Цоинтелеграпх Маркетс Про ТрадингВиев showed BTC/USD lingering at around $22,350 on March 4.
The pair had managed to avoid further losses after the initial shock around Silvergate wiped 5% off the spot price за неколико минута.
With United States equities delivering a strong finish to the week, Bitcoin and altcoins were unable to capitalize on what traders argued would normally be an opportunity for gains.
“Most global equity indices have now printed higher lows,” popular commentator Tedtalksmacro wrote (написано) in part of an update overnight.
“If it weren’t for the silvergate fears, BTC would be primed to breach the highs above 25k next week.“
Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, hoped that a comeback for Bitcoin could still hit.
“Bitcoin dropped from $23,800 to $22,300, while the Nasdaq and S&P were making strong bounces. Matter of time until Bitcoin catches up,” he Рекао Твиттер пратиоци.
A failed attempt by the U.S. dollar to head higher formed another potential tailwind for crypto, but this is still untapped as the week’s trading concluded.
$ ДКСИ 1D Chart. Daily Is reaching a tough spot for crypto. Testing a KumoCloud breakout a few days in a row here, a break above and crypto likely will go into a bearish trend for a bit. Rejection still possible here, but more volatility ahead for BTC/Alts while in this range#БТЦ https://t.co/h0DZDUaTmf pic.twitter.com/GGmLTqrDiY
— KevinCrates (@kevincrates_) Март КСНУМКС, КСНУМКС
Silvergate sags to all-time low
Силвергате заустављено its institutional fiat settlement arm, the Silvergate Exchange Network, on March 3 as concerns about bankruptcy multiplied.
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Као неки предложено alternatives for exchanges, others regretted the bank’s downfall and hoped that the situation would improve.
Заговорник биткоина Ник Картер рекао that he had “always respected Silvergate for being unapologetically pro crypto when virtually no one else was.“
“Sad to see their current predicament, hope they make it through the other side,” he added.
The stock of Silvergate Capital closed the week at record lows, at one point trading below $5. At its peak during Bitcoin’s 2021 all-time highs, it traded above $150.
Ставови, мисли и мишљења изнети овде само су аутори и не одражавају нужно ставове и мишљења Цоинтелеграпх-а.
Source: https://cointelegraph.com/news/bitcoin-price-would-retest-25k-without-silvergate-saga-analysis