Bitcoin's Rollercoaster Ride: From Banking Woes to Bullish Investors and $100K Targets

Bitcoin slid below $24,500 as investors weighed potential European banking troubles triggered by concerns about Credit Suisse. Shares of the Swiss banking giant tanked after its largest investor, Saudi National Bank, said it wouldn’t invest capital beyond the $1.5 billion it sank into the bank last year. European markets tumbled as investors in riskier assets grew skittish. Meanwhile, the CME FedWatch Tool showed that currently around 55% of traders believe the Fed will not raise interest rates at its next Federal Open Market Committee (FOMC) meeting starting March 22.