city Santiment BTC Action coinbase Bitcoin city Santiment

Bitcoin drops amidst Silvergate woes- Can bulls defend the $21K support?

Reading now: 786

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion Bitcoin [BTC] dropped sharply on 2 March following Silvergate’s woes.

Major crypto clients like Coinbase suspended business with the troubled Silvergate bank sending its stocks to plunge over 50%.

Investors reacted cautiously to the development, as some retreated to stablecoins, leaving most of the crypto market in the red, as shown below.

Read Bitcoin [BTC] Price Prediction 2023-23Source: Coin360 (Daily crypto market performance on March 3, 2023)Source: BTC/USDT on TradingView BTC posted solid gains after jumping from $16.61K in early January to $25.25K in February.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News