SAFAKNA TURKEY – Bitcoin, which was left untouched during the “banking crisis panic” that began over the weekend, once again topped the $26,000 mark today as risk appetite soared.
Swiss Credit Suisse, one of the world’s systemically important banks, received $54 billion in emergency bailouts from the central bank yesterday to allay investor fears, which has heightened risk appetite in the market.
THE MARKET WATCHED THESE EVENTS
US equities closed yesterday with a positive close as 11 major banks bailed out $30 billion to First Republic Bank, whose shares fell heavily after a negative open due to the aftermath of the banking crisis. Treasury Secretary Yellen’s announcement that the banking system remains stable also raised the risk appetite in the market. Along with exchanges, cryptocurrencies were also premium.
Bitcoin and Ethereum rose this week after Silicon Valley Bank and Signature Bank sank over the weekend. Bitcoin surged above $26,000, its highest level since last June. Ethereum also reached $1,780, a level not seen since September 12.
THE LATEST SITUATION IN THE CRYPTO MARKET
Thus, there was an increase of 5% in Bitcoin and 4% in Ethereum. Bitcoin found buyers at $26,400 and Ethereum at $1,730.
Solana traded at $20.3 with a 4.3 percent premium, Cardano at $0.33 with a 3.1 percent gain, and Dogecoin at $0.0749 with a 6.6 percent gain.
The total value of the crypto market increased by 2.6 percent to $1.08 trillion, breaking the psychological resistance of $1 trillion.
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