Bitcoin edged below $27,000 as the latest banking debacle failed to trigger the sort of price surge that has occurred in recent weeks amid multiple U.S. bank failures. _jocelynyang_ reports
) edged below $27,000 as the latest banking debacle failed to trigger the sort of price surge that has occurred in recent weeks amid multiple U.S. bank failures.
BTC had been hovering above $27,000 Thursday morning before dropping below the threshold around 1 p.m. ET. BTC has been trending downward for much of the past week as investors look for a new price catalyst. Bitcoin fell below $27,000 on Wednesday for the first time since March, regained the threshold before falling again.
In an email to CoinDesk, Vineeth Bhuvanagiri, the managing director of Emurgo Fintech, the founding entity of the Cardano blockchain, noted that investors remain concerned aboutMeanwhile, an outflow of deposits at PacWest Bancorp that sent the Los Angeles-based bank’s stock price down 22% on Thursday did not spur “strong demand for cryptos as this time, Edward Moya, senior market analyst for foreign exchange Oanda, wrote in a Thursday“Banking contagion fears still remain low as some banks like...
In an interview with CoinDesk, Greg Cipolaro, global head of research at bitcoin-focused investment firm NYDIG, compared the market’s tenor to that during the“It's a little bit of calm before the storm right now,” he said. “As we get into the negotiations in the end, the ceiling will ultimately be raised. There may be quite a bit of market volatility around that.”
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