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Bitcoin ETFs bring in over $6 billion in November after another $1 billion day Solana hits new $264 all-time high as DEX volume reaches $100 billion monthly milestone US Bitcoin ETFs surpass $100 billion, pose challenge to largest Bitcoin holders Bitcoin surges to $97k as market leverage hits historic $63 billion Memecoin revival drives Solana DEX Raydium past Tether in fees
Bitcoin breaks $28k barrier amid First Republic Bank’s seizure fears Bitcoin breaks $28k barrier amid First Republic Bank’s seizure fears James Van Straten · 2 years ago
Insights Bitcoin

Bitcoin breaks $28k barrier amid First Republic Bank’s seizure fears

Bitcoin has broken $28,000 amid the First Republic Bank's struggles — potentially set for government seizure.

James Van Straten / @jvs_btc / Apr. 26, 2023 at 9:35 am UTC

Quick Take

  • First Republic Bank finished trading a whopping 50% lower share price yesterday — closing at $8.26.
  • According to FOX News, it is reported that First Republic Bank is expected to be seized by the U.S. government.
  • First Republic Bank is looking to offload up to $100 billion worth of long-dated mortgages and bonds to stay afloat.
  • Based on this news, Bitcoin (BTC) broke $28,000 — up over 4% in the past five days.
  • Gold also caught a bid, while U.S. equities slumped into negative territory.
Assets: (Source: Trading View)
Assets: (Source: Trading View)
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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