Bitcoin hits $28,000, as UBS buys Credit Suisse for $3.2B 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
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
Latest Insights
In this insight
Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.