Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Coinpedia Fintech News on March 13, 2023, 12:42:36 PM
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Bitcoin's recent price crash due to the collapse of a US bank has displayed its resilience in maintaining an upward trend, but it has struggled to break past the $25,000 threshold, which is considered crucial for a bullish run. However, the markets are not yet stable, and sudden changes may continue to affect the crypto space. The upcoming week is highly volatile, with multiple events that may trigger significant fluctuations in the market.
Kobessi Letter, a weekly commentary on global capital markets, has identified the key events that could impact the markets. Despite the Bitcoin price surpassing the SVB's fallout, major volatility may hinder the rally's progress. The Consumer Price Index (CPI) and Producer Price Index (PPI) data for February could have a significant impact, as prices have been rising and falling rapidly, wiping out previous gains.
Furthermore, retail sales, jobless claims, and mass tech layoffs due to the SVB's failure could impact both the crypto space and traditional markets. This week is critical for the stock markets, as it deals with the fallout from SVB and receives crucial inflation data. Hence, market sentiments and Federal Reserve policies may be affected this week.
Overall, the crypto space remains highly volatile, and investors should remain cautious as sudden changes can occur at any time. The events mentioned above may have a significant impact on the markets, and investors should keep a close eye on the news and market trends to make informed decisions.
How long do you think the market will remain bullish?
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In addition to Silicon Valley Bank, Silvergate Capital Corporation holding has announced its intention to liquidate its Silvergate Bank.
But despite this, BTC is recovering its price of 22,000.