BTC Price Makes Slight Gains In The Wake Of First Republic Bank’s Imminent Price Fall

BTC Price Makes Slight Gains In The Wake Of First Republic Bank’s Imminent Price Fall
фото показано с : zycrypto.com

2023-4-26 16:16

BTC has surged over 8% in the past 24 hours following the news of First Republic Bank’s share slump.  The price gain was recorded across the board as the top 25 digital assets by market capitalization bounced positively with BTC.  Technical indicators show that BTC may continue to rally after gradually breaking the correlation from the S&P 500.

Bitcoin (BTC) and Ethereum (ETH) have hit new highs in April, not recorded in recent months, with bulls keeping up the pressure in the light of the recent traditional financial institution’s debacle.

The price of BTC has moved in an upward trajectory after the news of more woes at First Republic Bank. BTC is up by 8.88% over the last 24 hours, breaking past $28,500 and exchanging hands at $29,839 at press time.

Jake Boyle, a director at crypto brokerage Caleb & Brown, gave his opinion on the issue, highlighting that banking failures led to a new positive outlook.

“With First Republic Bank looking like it could go under, I suspect the market is anticipating yet more liquidity injections to prop up what certainly seems to be an American banking sector that is still very much in the throes of crisis,” he said. 

The price rally sparked off hours after Fox Business Reporter broke the news that bankers working with the institution expect it to go into government receivership. A receivership is a corporate restructuring model that allows creditors to recover funds and firms to avoid bankruptcy.

Other assets in the top 25 also recorded slight gains, with Solana leading the pack with 9%. Leading altcoin ETH gained 7.36% after sliding below $1,900 in a recent price correction which wiped away gains from the Shanghai upgrade. Dogecoin, Polkadot, and Polygon also recorded slight gains.

Bitcoins break away from stocks

For a greater part of 2022, BTC and stock prices saw a prior correlation as Feds continued to hike interest rates forcing investors to abandon risky assets. New data from crypto analytics firm Santiment suggests that the correlation between BTC and the S&P 500 may take a back seat as investors begin to see Bitcoin as a haven amidst the current traditional banking woes.

First Republic Bank was first reported to be in crisis in March, resulting in top banking institutions, including JPMorgan depositing $30 billion in the embattled bank. Later that month, the US authorities debated creating an emergency lending facility to help with the structural changes in the bank’s balance sheet.

On April 23, the bank announced its Q1 earnings, showing that deposits had plunged by over $100 billion while seeking to pursue “strategic options” to salvage the situation. 

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

recent price btc months bulls recorded april

Источник: zycrypto.com

recent price → Результатов: 126


Anonymous 4chan User Correctly Predicts Bitcoin Price Boost In April, Puts July At $9,200 BTC/USD

4chan User Correctly Predicted Bitcoin Price Increase In April In a recent Reddit post, cryptocurrency users are discussing a price prediction made by a 4chan user on January 21st, 2019. This user said that Bitcoin (BTC) bottomed back on December 15 and that in April Bitcoin was going to reach $5,300. Anonymous User Predicted Bitcoin […]

2019-4-8 21:43


Фото:

Bitcoin Billionaire Zhao Dong: Bitcoin Is Likely to Fluctuate Between $4,000 and $6,000 for Half a Year

With bitcoin’s recent surge to a five-month high, Zhao Dong, a bitcoin billionaire and one of China’s biggest over-the-counter (OTC) traders, recently claimed on Weibo that the sudden jump in bitcoin price does not mark the end of the bear market and that the original cryptocurrency will continue trading in a range likely between $4,000 and $6,000 for a few more months.

2019-4-9 20:21


Bitcoin Cash (BCH) Technical Analysis: Up 72.3% and Slightly Over-valued, May Correct but Trend is Clear

Latest Bitcoin Cash (BCH) News Bitcoin Cash has been struggling since its contentious and damaging hard-fork of Nov 2018. Could it be on its way back to former glory? Some key positive developments in recent days and explosive price movement suggest that it is on track to its former glory. Since last year’s hash war, […]

2019-4-5 20:40


Bitcoin [BTC], EOS are still the most compelling long positions, says Ikigai Asset Management founder

Bitcoin’s [BTC] significant bullish rise over the past week has left a long-lasting effect on the cryptocurrency market, with several proponents claiming that it was Bitcoin’s return. In a recent interview, Travis, the Founder and Chief Investment Officer [CIO] of Ikigai Asset Management, spoke about the price hike and the entry of institutional investors in […] The post Bitcoin [BTC], EOS are still the most compelling long positions, says Ikigai Asset Management founder appeared first on AMBCrypto.

2019-4-5 12:30


Фото:

Smaller Holders Caused Latest Bitcoin Rally, Bloomberg Reports, But Did They Really?

A recent report by Bloomberg cites a reduction in the number of idle Bitcoin wallets as a primary reason for the latest price surge. But is that really the case? Idle Bitcoin Wallets Plunge Citing a research from market intelligence firm Flipside Crypto, Bloomberg reports that a high number of Bitcoin wallets have become active […] Smaller Holders Caused Latest Bitcoin Rally, Bloomberg Reports, But Did They Really? originally published on My Bitcoin News by Yordan Lyanchev.

2019-4-5 12:07


Bitcoin [BTC]: China’s ‘Google’ Baidu registers ‘bitcoin’ as the most trending topic after bullish spike

Bitcoin’s [BTC] recent surge that enabled it to break out of its long drawn out bearish slump, created a splash in the cryptocurrency industry as well as the world of finance. The rise in Bitcoin’s price was just the tip of the iceberg as many other cryptocurrencies lower on the price charts also witnessed significant […] The post Bitcoin [BTC]: China’s ‘Google’ Baidu registers ‘bitcoin’ as the most trending topic after bullish spike appeared first on AMBCrypto.

2019-4-4 16:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Judge orders the U.S. SEC to pay $1.8M in Debt Box case dismissal

Judge dismisses U. S. SEC’s case against Debt Box, orders SEC to pay $1. 8 million in fees. The Ruling cites SEC’s bad faith conduct in obtaining asset freeze order. Debt Box calls the court’s decision a significant victory against regulatory overreach.

Riot Platforms wants to buy Bitfarms for $950 million

Riot Platforms offers $950M to acquire Canadian Bitcoin miner Bitfarms. Bitfarms is facing leadership turmoil amid CEO Geoffrey Morphy’s lawsuit. The merger would create largest publicly listed Bitcoin miner by capacity.

Notcoin price soars after beating Bitcoin in vote post NOT Airdrop launch

Notcoin price surges 33. 42%, reaching $0. 006884 after community votes favor it over Bitcoin. New NOT airdrop and earning missions boost user engagement and investment interest. Notcoin (NOT) is currently on its way back to its Binance listing price Notcoin (NOT) price has seen a remarkable surge in its price, climbing by over 33.

Toncoin price: What next for TON as TVL surpasses $300 million?

Toncoin price bounces as total value locked (TVL) on the TON Blockchain surpasses $300 million. DeFiLlama data showed TON Blockchain’s TVL at $315 million, up from $156 million on May 1. Telegram related news and Pantera Capital’s investment have been notable catalysts for Toncoin (TON).

OKX withdraws VASP license application in Hong Kong

OKX withdraws VASP license application in Hong Kong. The exchange will cease trading services by May 31. Users can withdraw funds until August 31. OKX has announced the withdrawal of its Virtual Asset Service Provider (VASP) license application in Hong Kong.

Pepe price hits new all-time high: here’s why it’s soaring

Pepe price hits $0. 0000142 ATH, showcasing its resilience and market prominence. Ethereum’s surge and altcoin rotation among the factors fueling Pepe’s rally. Despite early investor profit-taking, bullish sentiment persists, fueled by whale activity.