Bitcoin

As the underlying issues in our economy are exposed by recent banking failures, Bitcoin stands as a trustless, alternative money.

Cryptocurrencies rose even after regulators Sunday announced the closure of Signature Bank, the last major crypto bank after Silvergate.

"News of the Fed creating a backstop helped to bolster equities and crypto overnight, however, as panic sets in we will have to see how today's market holds up." They helped solve this problem by creating easy banking services and payment platforms for crypto companies; namely, the Silvergate Exchange Network and Signature's Signet platform. Wall Street analysts Friday had maintained buy ratings on Signature Bank, even as the bad news around Silvergate and SVB unfolded. [Bitcoin](/quotes/BTC.CM=/) rose more than 15% to $24,382.98, according to Coin Metrics, and is now about 19% above its Friday levels. Crypto initially moved higher amid a broader rally in risk assets. [less aggressive in raising interest rates](https://www.cnbc.com/2023/03/13/dollar-slides-as-us-intervenes-on-svb-collapse.html) now that authorities have stepped in to limit the fallout from SVB and Signature.

Bitcoin (BTC), the world's largest cryptocurrency by market capitalization, surged 18% to over $24,200 over the past 24 hours even as fallout from the ...

[ Consensus 2023](https://consensus.coindesk.com/), CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [strict set of editorial policies](/ethics/). As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of [stock appreciation rights](https://www.investopedia.com/terms/s/sar.asp), which vest over a multi-year period. Data from Coinglass shows that traders liquidated $300 million worth of crypto positions on Monday. A full $140 million worth of these liquidations were bitcoin

With the closure of Signature Bank, U.S. crypto companies have limited banking options, a blow to the industry. So why is Bitcoin rallying?

It may be too good to be true. It May Be Too Good to Be True.

Bitcoin, the digital currency that has long been viewed with skepticism by the financial establishment, is having its moment in the sun.

But at least for now, bitcoiners can shake their heads as the banking system once again depends on the government to throw it a lifeline. Oh, the irony of it all. Before joining Forbes I worked as a reporter and editor at Bloomberg where I covered everything... People are realizing the importance of sound money with no counterparty risk.” Bitcoin's rise is particularly sweet for its adherents, who’ve long argued that it represents a sound alternative to the traditional banking system. The currency is still down about 65% from its all-time high, and its price remains notoriously haywire.

Somewhere out there, there are ride-or-die diamond-hand crypto HODLers who believe that they've been vindicated by the losses in the banking industry.

[NYSE:SI](https://www.tipranks.com/stocks/si/forecast)) failing and Signature Bank ( [NASDAQ:SBNY](https://www.tipranks.com/stocks/sbny/forecast)) sputtering, a lot of crypto’s allies are out of the fold, at least temporarily. [last three months of bitcoin trading](https://www.tipranks.com/cryptocurrency/btc-usd), bitcoin saw a rally throughout much of January and February. Many were halted for trading throughout the morning, and that left bitcoin looking a lot less risky in the interim.

Over the past 24 hours, Bitcoin prices have soared in a rebound after recording a major plummet last week following the Silvergate fallout...

BTC trading volume has spiked from a weekend-low of $25 billion to as high as $60 billion in the last 24 hours. MATIC was also part of the spike movement with a surge of 12.2%. At the time of writing ETH currently trades at $1,689 looking to soon cross over the $1,700 mark. [Bitcoin](https://www.newsbtc.com/news/bitcoin/buy-bitcoin-says-messari-ceo-amid-market-downtrend/) prices have soared in a rebound after recording a major plummet last week following the Silvergate fallout. With news such as Silvergate shutting down operations and KuCoin being sued in New York, Bitcoin plummeted below $20,000 with a local bottom of $19,736 as of March 10. Despite the fact that there is a reason for the decline in price, BTC has only continued to show a bullish trend since Sunday.

Bitcoin (BTC) had every right to a miserable weekend after a week that saw crypto-adjacent bank Silvergate Bank finally fold after months of speculation,...

Ethereum (ETH) similarly did a dip and recover on the ETH/USDT pair, falling as low as US$1,370 on Friday before bouncing back up to US$1,600 as of Monday morning. [called](https://www.coindesk.com/markets/2023/03/13/first-mover-asia-silicon-valley-bank-failure-highlights-small-banks-vulnerability-bitcoin-soars-past-225k/) the action "risk asset friendly at first blush". What crisis? [Bloomberg](https://www.bloomberg.com/news/videos/2023-03-11/-storm-in-a-teacup-over-svb-lund-yates-video), it was all “a little bit of a storm in a teacup”. Bitcoin crisis? Bitcoin (BTC) had every right to a miserable weekend after a week that saw crypto-adjacent bank Silvergate Bank finally fold after months of speculation, followed by yet another collapse in the form of Silicon Valley Bank (SVB).

Even as the USDC stablecoin repegs at $1, the current 0% premium indicates a lack of leverage buying demand for Bitcoin via futures instruments.

dollar deposits, with [the closure of Signature Bank affecting OKCoin](https://cointelegraph.com/news/okcoin-suspends-usd-deposits-in-wake-of-signature-bank-closure). [Silvergate Bank stock price collapse on March 1](https://cointelegraph.com/news/silvergate-stock-plunges-31-after-delayed-filing-raises-doubts-over-future) after the delayed filings of its annual 10-K financial report. dollar](https://cointelegraph.com/news/usdc-bounces-back-towards-1-peg-after-fed-announcement) on March 10. Fiat gateway on and off ramps are critical for stablecoins, market markers, and cryptocurrency exchanges for a variety of reasons. Signature Bank was one of the most prominent financial institutions serving the cryptocurrency industry, alongside Silvergate Bank, which announced its [voluntary liquidation](https://cointelegraph.com/news/silvergate-capital-corporation-will-voluntarily-liquidate-silvergate-bank) last week. Consequently, the Bitcoin 3-month futures premium turned into a discount, otherwise known as backwardation. Such an unusual movement caused price distortion across exchanges, prompting Binance and Coinbase to disable the automatic conversion of the USDC stablecoin. The chart shows traders had been neutral-to-bearish until March 10 as the basis indicator oscillated between 2.5% and 5%. Bitcoin quarterly futures are popular among whales and arbitrage desks. According to the regulators' joint statement, "no losses will be borne by the taxpayer," although the strategy for deploying Treasury assets is questionable. The intraday high of $24,610 may not have lasted long, but $24,000 represents a 45% increase year-to-date. [USDC](https://cointelegraph.com/usdc-price-index)) also caused significant turmoil in the cryptocurrency industry after [breaking below its 1:1 peg with the U.S.

Crypto prices surged higher following President Biden's announcement of a backstop for bank deposits, propelling Bitcoin above $24k.

“All in all not surprising, given that these were challenged for the first time since March last year, but especially as long as the weekly 8EMA is above us, there is a lack of relative strength. “The immediate areas to watch on the daily timeframe now are $21,500 - $21,800 for support, and $22,600 - $23,000 for potential resistance.” government stepped in to prevent contagion in the banking sector, BTC price “bounced back all the way towards the 50-DMA located near $22,900,” Eight Global wrote. “Bulls have some momentum and more price gains this week would negate the price downtrend.” [(Kitco News)](/) - The cryptocurrency market is in a much better position than it was on Friday, as the move by the U.S. Stocks experienced less of a bounceback, initially jumping after President Biden announced an emergency backstop for deposits at struggling banks, only to see that momentum fade as the day progressed.

According to Arthur Hayes, Bitcoin and the broader crypto market are poised for a new bull run in the face of the brewing banking crisis.

Will the Fed completely suspend its rate hikes? And the first cracks in the Fed’s quantitative tightening (QT) cycle are imminent. Even though the Fed is only replacing existing money, the signal effect is clear. And that moment may have arrived, as analyst Dylan LeClair, among others, explains in his latest tweet, referring to the Fed Funds Futures. Federal Reserve (Fed) chairman Jerome Powell has consistently emphasized in recent months that he will keep raising interest rates until inflation is back at 2% or until something breaks. Has the Fed really cranked up the money printing machine again to bail out Silicon Valley Bank (SVB), kicking off Quantitative Easing (QE)?

Amid a U.S. banking crisis, value is flowing into bitcoin. Is this the beginning of the “Great Reset?” investor and author Tatiana Koffman asks.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [ Consensus 2023](https://consensus.coindesk.com/), CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. The Great Reset presupposes a future where bitcoin is the most valuable asset and the ultimate measure of value. A significant shift is underway, and more people are opting out of the traditional system. [strict set of editorial policies](/ethics/). The depegging of USDC is significant because Circle, considered a highly regulated and secure business, was poised to go public as a separate entity. [below 87 cents](https://www.coindesk.com/markets/2023/03/11/traders-bet-on-usd-coin-rebound-as-usdc-falls-to-90-cents/) on Saturday. [direct response](https://www.coindesk.com/learn/who-is-satoshi-nakamoto/) to the Great Financial Crisis in 2008, during a period when many hardworking people felt both the government and the financial system were working against them. As rumors of a cash shortfall began to circulate, a full-on run on the bank ensued and regulators took over. At the same time, Silicon Valley Bank was forced to sell some of the 10-year bonds on its balance sheet at a 20%-30% discount to meet obligations amid a period of climbing withdrawals. The expectation of higher interest rates for a prolonged period of time almost immediately sent a ripple effect through the bond market, causing bond prices to drop drastically because prices move opposite to yields. The failure of Silicon Valley Bank, Silvergate Bank and Signature Bank continue to ripple through the markets, causing U.S.

Bitcoin surges as Fed liquidity plans prompt BTC price to erase Silicon Valley Bank losses.

At Coinbase all client funds continue to be safe and accessible including USDC conversions which will resume on Monday,” it tweeted. dollar peg at the time of writing. [summarized](https://twitter.com/tedtalksmacro/status/1635105582935072768). For trader and analyst Rekt Capital, this “likely” put pay to the bearish double top pattern previously playing out on weekly timeframes. [read](https://twitter.com/rektcapital/status/1635020401024860161). If CPI comes in below estimates I don’t see a reason for the market to hold back.” “For any local longs, stops below 21K should be safe IMO. [summarized](https://twitter.com/BTC_Archive/status/1634994341071712257). The volatility — and temporary relief for bulls — is due to events in the U.S. [added](https://twitter.com/tedtalksmacro/status/1635059947242418183). All depositors of this institution will be made whole. A snowball effect soon began as depositors became wary that something might be wrong regarding liquidity.

Data from Companies Market Cap shows Bitcoin has now overtaken tech giant Meta, despite being almost $37 billion below 24 hours prior.

[flipped the market cap](https://cointelegraph.com/news/bitcoin-market-cap-flips-payments-giant-visa-for-the-3rd-time) of payment processing giant Visa for the third time in history, putting it just ahead of the payments company. [data](https://companiesmarketcap.com/assets-by-market-cap/) from Companies Market Cap shows Bitcoin's market cap has reached $471.86 billion, surpassing that of Meta’s market cap of $469 billion. [BTC](https://cointelegraph.com/)) market cap has managed to flip that of tech giant Meta.

There is a good observation to be made on USD Coin's (USDC) recent de-pegging coinciding with the rally on bitcoin and ether. Or more tellingly, bitcoin's.

We can see this trend at the moment. Perhaps, but with the markets on tenterhooks, persistent volatility shouldn’t be ruled out. I want to say quality but that’s a loaded term when discussing Tether, given its chequered history.

Banking sector stress strengthens the case for Fed pause next week. Likely beneficiaries from the financial stress are gold and bitcoin, one observer said.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [ Consensus 2023](https://consensus.coindesk.com/), CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. That's clearly changed in the wake of the Silicon Valley Bank collapse," analysts at ING said in a note to clients on Tuesday. The core CPI, which excludes the volatile food and energy component, is projected at 0.4% month-on-month and 5.5% year-on-year. "The Fed would no doubt prefer the system to look and feel safer. CPI [inflation data due on Tuesday] is less relevant – the system is key for now," analysts added. Likely beneficiaries from the financial stress are gold and bitcoin - hard assets," the author of the popular Crypto is Macro Now newsletter told CoinDesk. The central bank has lifted the official borrowing cost by 450 basis points in one year, roiling risk assets, including cryptocurrencies. "Likely beneficiaries from the financial stress are gold and bitcoin, the hard assets." dollars from one another, surged to 54.00, the highest since March 2020, according to [data source](https://en.macromicro.me/charts/45928/us-fra-ois-spread) MacroMicro. The leading cryptocurrency by market value rose to a three-week high of $24,900, extending a three-day winning streak, CoinDesk data show. When the interbank lending market is strained or dysfunctional, banks face greater liquidity risk, which can result in insolvency.

The rebound in crypto prices is likely being driven by expectations of more accommodative monetary policy. Inflation data puts that narrative at risk.

[hasn’t seen since mid-February](https://www.barrons.com/articles/bitcoin-ethereum-price-crypto-markets-today-b86262c4?mod=article_inline). Bitcoin rallied to a peak above $25,000 last month from around $16,500 at the start of January, but its climb higher stagnated in March and saw the crypto fall below the $20,000 level last week [amid worries over crypto banks and the regulatory picture](https://www.barrons.com/articles/bitcoin-crypto-markets-today-8f5a68aa?mod=article_inline). ](https://www.barrons.com/market-data/cryptocurrencies/btcusd?iso=coindesk)

Les nouveaux contrats événementiels sur les contrats à terme Bitcoin offrent un moyen à risque limité et hautement transparent pour un large.

Le litige de l’entreprise avec la SEC est en cours. Initialement débutant en génie mécanique à l’université, il a rapidement développé une passion pour les crypto-monnaies et la finance. [a annoncé](https://www.cmegroup.com/media-room/press-releases/2023/3/13/cme_group_announcesfirstdayoftradingofeventcontractsonbitcoinfut.html) le lancement de contrats événementiels sur les contrats à terme Bitcoin (BTC). Le 10 mars, Cointelegraph a rapporté que la demande d’un un fonds négocié en bourse Bitcoin au comptant du gestionnaire d’actifs VanEck avait été refusée par la Securities and Exchange Commission (SEC) des États-Unis. Alors, où est l’écart dans l’opinion de la Commission?» «Nos nouveaux contrats événementiels sur les contrats à terme Bitcoin offrent un moyen à risque limité et hautement transparent pour un large éventail d’investisseurs d’accéder au marché du bitcoin via une bourse entièrement réglementée.

Amid a U.S. banking crisis, value is flowing into bitcoin. Is this the beginning of the “Great Reset”? investor and author Tatiana Koffman asks.

Traders seek options to hedge against market volatility as U.S. bank failures triggered sharp repricing of interest rate expectations.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). A similar pattern is observed in the ether options market, where the seven-day implied volatility rose to a two-month high of 77% early today. Bitcoin's seven-day annualized implied volatility (IV), the market's expectation of price turbulence in the short term, rose to a four-month high of 90% early today. Volume in options tied to Wall Street's fear gauge, the VIX index, soared to a four-year high last week, per Reuters. Call options give the right to buy, while put options give the right to sell. The 24-hour notional volume in ether options totaled $948 million as of writing, the highest since November.

Top cryptocurrency bitcoin hit a nine-month high of $26533 on Tuesday, in its fourth consecutive day of gains, as it appeared to benefit from chaos in ...

The steadying of USDC, the second-biggest stablecoin and a key cog in digital token trading, was seen as positive for the crypto sector as a whole. consumer price data that showed inflation still rising, but at a slower pace than the previous month. The widely anticipated reading may lead the Federal Reserve to slow or even pause hiking interest rates next week. authorities announcing plans to limit the fallout from the collapse of Silicon Valley Bank (SVB). authorities' action helped stabilise the major USDC stablecoin, whose issuer Circle had deposits of $3.3 billion at SVB. Register for free to Reuters and know the full story

Bitcoin jumped on Tuesday to levels not seen since last summer, extending its Monday rally as investors weighed the latest inflation data.

This led some investors to speculate that the Fed [would be less aggressive in raising interest rates](https://www.cnbc.com/2023/03/13/dollar-slides-as-us-intervenes-on-svb-collapse.html). Its price is still largely driven by macro data and some analysts expect to see a bigger return to that correlation, even with idiosyncratic events driving much of the action in 2023. [Ether](/quotes/ETH.CM=/) added 2.62% to trade at $1,728.11. 12, during the rally that preceded the [Ethereum merge](https://www.cnbc.com/2022/08/20/the-ethereum-merge-will-lead-to-bigger-yields-and-win-new-investors-.html). So-called core CPI, which removes volatile food and energy prices, showed a monthly increase slightly above economists' expectations, and a year-over-year change in line with expectations. [Bitcoin](/quotes/BTC.CM=/) was last higher by 3.39% at $25,144, according to Coin Metrics.

BTC price surges to near $26000 as Bitcoin hits nine-month highs on the back of CPI data conforming to expectations.

“Consensus gets it spot on as CPI comes in at 6%. [read](https://twitter.com/GameofTrades_/status/1635620255690276864). [sell-side liquidity](https://twitter.com/MI_Algos/status/1635611237793902592/photo/1) was parked at $25,000 and beyond; the main target of bulls on low timeframes. Feb Overall CPI +6% YoY from 6.4% in Jan, Core CPI 5.5% in Feb down from 5.6& YoY in Jan. [tweeted](https://twitter.com/venturefounder/status/1635621473476804609). [Cointelegraph Markets Pro](https://pro.cointelegraph.com/?via=markets&_ga=2.142027444.742658523.1640948929-762064149.1640948929) and [TradingView](https://www.tradingview.com/symbols/BTCUSD/?exchange=BINANCE) followed BTC/USD as sudden volatility kicked in on the release of February’s CPI numbers.

The latest price moves in crypto markets in context for March 14, 2023.

CoinDesk is an independent operating subsidiary of [Digital Currency Group](https://dcg.co/), which invests in [cryptocurrencies](https://dcg.co/#digital-assets-portfolio) and blockchain [startups](https://dcg.co/portfolio/). [ Consensus 2023](https://consensus.coindesk.com/), CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. [suspended](https://www.coindesk.com/business/2023/03/13/coinbase-officially-suspends-binance-usd-stablecoin-trading/) trading for the binance USD (BUSD) stablecoin, according to a tweet on Monday. [strict set of editorial policies](/ethics/). [CFTC published a list of its members to the committee on Monday](https://www.cftc.gov/PressRoom/PressReleases/8674-23), announcing the committee had been newly constituted and is being sponsored by Commissioner Christy Goldsmith Romero, who took office last March. [Subscribe to get it in your inbox every day](https://www.coindesk.com/newsletters/first-mover/).

(Bloomberg) -- Bitcoin climbed to $26,000 for the first time since June on growing optimism that the digital-asset sector will weather the recent turmoil in ...

The coin is down 33% over the past year — and even more when considering its fall from its 2021 all-time high of around $69,000. The rapid recovery has been eyepopping in light of the collapse of the crypto-friendly banks. The virtual-digital-tokens market stabilized after a jittery week that saw three crypto-friendly banks in the US collapse as local regulators over the weekend took steps to shore up the nation’s banking sector, including pledging to fully protect depositors.

Bitcoin prices have roared back to levels not seen in about a month—a bullish sign for cryptos. Dreamstime. The rally in Bitcoin BTCUSD + ...

[hasn’t seen since the crypto crash accelerated last June](https://www.barrons.com/articles/bitcoin-ethereum-price-crypto-markets-today-b86262c4?mod=article_inline). Bitcoin rallied to a peak above $25,000 last month from around $16,500 at the start of January, but it stagnated in March and fell below the $20,000 level last week [amid worries over crypto banks and the regulatory picture](https://www.barrons.com/articles/bitcoin-crypto-markets-today-8f5a68aa?mod=article_inline). ](https://www.barrons.com/market-data/cryptocurrencies/btcusd?iso=coindesk)

LONDON (Reuters) - Top cryptocurrency bitcoin hit a nine-month high of $26,533 on Tuesday, in its fourth consecutive day of gains, as it appeared to benefit from chaos in global markets following last week's collapse of Silicon Valley Bank.

The steadying of USDC, the second-biggest stablecoin and a key cog in digital token trading, was seen as positive for the crypto sector as a whole. consumer price data that showed inflation still rising, but at a slower pace than the previous month. authorities' action helped stabilise the major USDC stablecoin, whose issuer Circle had deposits of $3.3 billion at SVB.

Bulls have regained the near-term technical advantage as a price downtrend on the daily bar chart has been soundly negated this week. The path of least ...

and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication. Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. [(Kitco News)](/) - [ March ](https://www.kitco.com/price/bitcoin/) [Bitcoin](https://www.kitco.com/price/bitcoin/) futures prices are higher and hit a three-week high in early U.S.

Bitcoin surges above $26000 as traders place new bets on cryptocurrencies following the release of new inflation data and government efforts to stabilize ...