Insights

Bitcoin hits $28,000, as UBS buys Credit Suisse for $3.2B

exchange68September 13, 2024

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Quick Take

What happened over the weekend?

UBS bought Credit Suisse for $3.2 billion
Swiss National Bank offers $100 billion in liquidity as part of the UBS deal.
This is a 73% discount on Friday on Credit Suisse’s closing price.
UBS credit default swaps have doubled since news broke that it would rescue Credit Suisse.
Gold hit an all-time high of $1,988 during Friday’s session
Bitcoin broke through $28,000 and broke through 200WMA
Bitcoin investors are extremely bullish as spot and derivatives volume is the highest over a year.

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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