The silicon valley bank has massively ruptured the stock market. Bitcoin has dropped. Which was mainly affected by the banking crisis. Everyone in the crypto industry is suffering. Not only traders. They are suffering due to sudden price volatility. It cost billions of dollars in the market. There are also ongoing regulatory actions against crypto companies. Perhaps making it more difficult.
Despite Price, Gain Bitcoin Has Dropped
BTC has dropped to a ten-month low. Although the bullish is in the process of gaining prices on quarter. The price has surged to 45% in 2023. Which happened after a long time, making it the best-performing asset of all time.
Currently, the stock market and the bonds are facing the worst time. This is one of the reasons BTC has dropped. The financial situation in the united states crushed and made the banks collapse. The BTC price perhaps surged amid the financial crisis the country is facing at the present moment.
The crypto ecosystem is fragile. The baking system impacted them massively, rather directly.BTC liquidity dried up because of silicon valley bank, and signature bank. Both of them removed important US dollars from the crypto. This led to drying up and this especially happened in U.S. Exchange.
The blockage on the flow of Bitcoin also led to price volatility. Which caused the traders to pay more fees, which is higher than the regular price. The usual price is $100,000, when the Bitcoin price dropped it cost 2.5 times more. It happened in early March. Whereas, at the same time Binance’s BTC/USDT barely moved.
