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

SVB Financial Group (SIVB) is down 65% and has been halted on the main exchange several times.

James Van Straten
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James Van Straten
This article was published 3 years ago. Some details may no longer reflect current market conditions or recent developments. If you spot anything that needs an update, contact us.
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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
Banks: (Source: Bloomberg)
Banks: (Source: Bloomberg)
Assets: (Source: Trading View)
Assets: (Source: Trading View)
Mentioned in this article
Bitcoin
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James Van Straten
James Van Straten
Former Lead Analyst 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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Bitcoin BTC (24h)
$80,711.57 -1.37%
Market Cap $1.62T
24H Volume $32.32B