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
The post Bitcoin loses 21k support, as contagion from Silvergate enters banks, financials sector appeared first on CryptoSlate.
Main content of the article:
Bitcoin has fallen over 5% today and lost support at $21,000 after news that Silvergate is halting operations. The contagion from this issue is spreading into the banking and financials sectors with banks seeing a heavy red day. The SVB Financial Group is down 65% with trading halted on the main exchange several times. The Vix is above 21 while Nasdaq, S&P and DXY are in the red for today. However, Gold is up 1%. This marks a difficult day for the banking and financials sector, with investors possibly looking to move into safe havens like gold.