Insights

Bitcoin loses 21k support, as contagion from Silvergate enters banks, financials sector

exchange68September 13, 2024

0 1 1 minute read

Quick Take

Bitcoin lost $21,000 as support and is over 5% down today
This comes after news of Silvergate halting operations.
Contagion spreading into the banking and financials sector of the economy, with banks particularly seeing a heavy red day.
SVB Financial Group (SIVB) is down 65%, and trading has been halted on the main exchange several times.
Vix is above 21, while Nasdaq, S&P, and DXY are in the red for today
However, Gold is up 1% today

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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