Bitcoin loses 21k support, as contagion from Silvergate enters banks, financials sector 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
James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century's paramount invention.
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.
