Banking Woes Spark Bitcoin Rally and Asset Sell-Off
TL;DR
Bitcoin broke its losing streak and surged above $28,000, up 3.7% over the past 24 hours, while Ether also rallied. The origins of the surge were difficult to pinpoint, but some analysts suggest that the market is anticipating more liquidity injections to prop up the American banking sector, which is still in crisis. Meanwhile, CoinDesk's annual Consensus conference will cover key topics over three days, including the current state of the industry, regulatory uncertainty, and the future of crypto.
Topics:businesscryptocurrency#bitcoin#consensus#cryptocurrency#ether#first-republic-bank#regulatory-uncertainty
- First Mover Asia: Bitcoin Breaks Its Losing Streak in Late Tuesday Rally CoinDesk
- First Republic Bank's deposit outflows were worse than expected, says Wells Fargo's Jared Shaw CNBC Television
- Heard on the Street Recap: Living Dead The Wall Street Journal
- First Republic May Sell $100 Billion in Assets Bloomberg Television
- Forexlive Americas FX news wrap: Banking woes spark a fresh flight to safety ForexLive
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