Bitcoin rose back above $20,000 på lördag, despite markets still being spooked by the collapse of yet another banking institution. Silicon Valley Bank was shut down by U.S. regulators on Friday, causing many institutions to lose access to capital. This includes USDC issuer Circle, which led to a USDC depegging. Ethereum also rebounded on Saturday.
Innehåll
Bitcoin
Bitcoin (BTC) rose back above $20,000 på lördag, despite overall volatility in financial markets being at historic highs.
This comes as the Federal Deposit Insurance Corporation (FDIC) confirmed it was shutting down Silicon Valley Bank.
Trots detta, BTC/USD raced to an intraday high of $20,792.53, mindre än 24 hours after trading at a low of $19,628.25.
Övergripande, today’s marginal rally in price comes as the 14-day relative strength index (RSI) found a floor at the 27.00 nivå.
I skrivande stund, indexet följer kl 28.46, with bitcoin at $20,279.45, as earlier gains have eased.
Market volatility will likely remain higher in the coming days, leading to bitcoin moving above and below $20,000 throughout the weekend.
Ethereum
Ethereum (ETH) was also significantly higher to start the weekend, as prices rose back above $1,400.
Following a two-month low at $1,378.53 i går, ETH/USD moved to a peak at the $1,481.32 nivå på lördag.
The move comes as ethereum bulls bought yesterday’s dip, as price strength moved deep into oversold territory.
Friday saw ethereum’s RSI fall to 28.30, which was its weakest point since last June, however the index has since rallied.
När jag skrev, it is now tracking at 32.26, and appears to be heading towards a long-term floor at 34.00.
Should it reach this point, there is a strong possibility that ethereum will be back above $1,500.
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Will today’s rebound extend into the remainder of the weekend? Lämna dina tankar i kommentarerna nedan.
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