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Global Banking Crisis

All articles tagged with #global banking crisis

cryptocurrency2 years ago

Bitcoin's Price Volatility Continues Ahead of Fed Interest Rate Announcement.

Bitcoin's price has been fluctuating around $28,000 as investors await the U.S. Federal Reserve's interest rate decision on Wednesday. The recent announcement that the Fed would increase the frequency of dollar swap lines with major central banks has calmed exchange volatility and contributed to the rise in risk assets, including bitcoin. The threat of a global banking meltdown has also diminished, and investor hopes are mounting for a more dovish Fed policy. Bitcoin is seen as a hedge against the banking system, and its potential sustainability is difficult to determine. The FOMC's announcement will likely determine bitcoin's path forward.

via CoinDesk|
#bitcoin#cryptocurrency#federal-reserve
cryptocurrency2 years ago

Short-term Treasury Investments Dampen Bitcoin's $30K Rally Prospects

Investors are not fully confident in further price upside for Bitcoin despite its recent gains, as they are hoarding cash positions or short-term government debt instruments in anticipation of inflation or a recession. The recent rescue of Credit Suisse and the emergency credit lifeline provided by the US Treasury to protect the banking sector are not reassuring signs for financial institutions. Professional Bitcoin traders are not bullish above $26,000, and unless crypto investors regain confidence, the chances of the cryptocurrency surpassing $30,000 remain extremely remote.

via Cointelegraph|
#bitcoin#credit-suisse#cryptocurrency
finance2 years ago

Banking Turmoil Sparks Fear of Lehman-Style Market Event

Art Cashin, the director of floor operations at UBS, warned that the market is nearing a Lehman moment as a global banking crisis unfolds. He blamed the Fed's monetary tightening for the fall of a slew of specialist banks. Cashin said investors could bet against major financial institutions after the failure of Silicon Valley Bank, warning of an event comparable to the downfall of Lehman Brothers, which triggered the great financial crisis in 2008. Panic has spread oversees to Credit Suisse, which saw its stock plunge 30% in a day after a top shareholder said it could not provide further financial support due to a regulatory limit.

via Markets Insider|
#art-cashin#finance#financial-institutions
cryptocurrency2 years ago

Bitcoin Surges Past $26K, Setting Sights on $28K

Bitcoin's price surged over 6% in the past 24 hours, reaching a high of $26,350, alongside a wider uplift in the cryptocurrency market. The rise in U.S. and Asian stock markets after major lenders agreed to inject $30 billion to save U.S.-based First Republic Bank from insolvency, promoting risk-on sentiments. The Fed potentially moving away from quantitative tightening is prompting renewed interest in risk-on assets like stocks and crypto from investors. Bitcoin is also benefiting from the risk of a global banking crisis, with uncertainty around a banking failure building positive sentiment around decentralized alternatives such as Bitcoin.

via Decrypt|
#bitcoin#cryptocurrency#cryptocurrency-market