Bitcoin skyrocketed by roughly $2,000 in a day as the US Federal Reserve announced lending $300 billion to certain struggling US banks, including Silicon Valley Bank and Signature Bank.
The altcoins have also turned green today, with ETH reclaiming $1,700, while BNB, MATIC, DOGE, and DOT are up by over 5%.A lot can change in the cryptocurrency space within a week and the past seven days are a prominent example. Bitcoin struggled to remain above $20,000 last Friday amid the growing banking issues with several organizations linked to the industry.
After a relatively calm weekend in which BTC stood around $20,500, the asset went on a tear in the following days. It first soared past $22,000 before another couple of leg-ups drove it to $26,500 on Tuesday. This became its highest price tag since June 2022. The bears finally came up to play and pushed the cryptocurrency south. As a result, bitcoin slipped to $2,000 on Wednesday.This is all you need not to miss any price action in the raging crypto markets. Start receiving this recap, for free, every day:
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