Bitcoin (BTC) is leading the cryptocurrency markets lower and the matter is being exacerbated by Silvergate Banks' ongoing issues. This week the cryptocurrency-focused bank said that it needed additional time to file its annual 10-K report and warned that it may not be able to operate for another 12 months. Reacting to this news, several cryptocurrency companies announced that they were reducing or canceling their partnerships with Silvergate Bank. The uncertainty regarding the future of the bank and its overall impact on the cryptocurrency sector may have caused a knee-jerk reaction. However, if the contagion does not spread, the downside …

The U.S. stock market approaches a crucial turning point as uncertainty over inflation rises after hotter-than-expected economic data released in February. Despite mounting investor worries, the economy is showing signs of resilience that could protect against a significant downside move. The escalating risk-off sentiment in the market is also creating volatility for Bitcoin (BTC). The leading crypto asset, which has had a strong correlation with the U.S. stock market, moved oppositely to the stock market in February. The correction between BTC and Nasdaq turned negative for the first time in two years. However, with the crypto bulls pausing at the …

Bitcoin (BTC) traded around $22,400 at the March 3 Wall Street open as analysts stayed divided over the odds of a recovery. Hopes for an inverse "Bart Simpson" on BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading flat after a flash crash overnight saw $1,000 shaved off in minutes. As Cointelegraph reported, concerns over the fate of Silvergate bank exacerbated existing market cold feet to spark a margin call cascade to $22,000. At the time of writing, only a modest comeback had taken place, while opinions diverged as to how short-term price action would play out. "Locked …

Bitcoin (BTC) investors reeling from the shock of recent cryptocurrency company failures and banking issues may face another potential problem: a recovering U.S. dollar. US dollar strength reemerges Notably, the U.S. dollar index (DXY), which tracks the greenback's performance against a basket of top foreign currencies, has risen 4% from its Feb. 3 low of 100.82, amid anticipations that the Federal Reserve will continue raising benchmark rates to cool inflation. Inflation ersists An air of caution remains as fresh U.S. data shows a recession is not yet imminent. That includes the latest jobless claims, which fell 2,000 to a seasonally …

The price of Bitcoin (BTC) has fallen over 5% from $23,500 to $22,240 in just over 60 minutes, amid a wave of uncertainty concerning crypto-friendly bank Silvergate Capital. The price drop has wiped $22 billion from Bitcoin's total market capitalization, which is now at $430.9 billion, according to Cointelegraph Markets Pro. Ethereum (ETH), XRP (XRP), Cardano (ADA) and Polygon (MATIC), and other non-Bitcoin cryptocurrencies have also suffered a similar sharp decline. Bitcoin just dropped $1200 in less than 30 minutes. — The Wolf Of All Streets (@scottmelker) March 3, 2023 While the cause behind the steep $1,200 price drop is …

Crypto traders' urge to create leverage positions with Bitcoin (BTC) appears irresistible to many people, but it's impossible to know if these traders are extreme risk-takers or savvy market makers hedging their positions. The need to maintain hedges holds even if traders rely on leverage merely to reduce their counterparty exposure by maintaining a collateral deposit and the bulk of their position on cold wallets. Not all leverage is reckless Regardless of the reason for traders' use of leverage, currently there is a highly unusual imbalance in margin lending markets that favors BTC longs betting on a price increase. Despite …

In this week’s episode of Market Talks, Cointelegraph welcomes Adrian Zduńczyk, or as he is known on Twitter, CryptoBirb. He is the founder and CEO of The Birb Nest, a trading community platform. He is also a chartered market technician, chemical engineer, entrepreneur, mentor and influencer with over 655,000 followers on Twitter. We start things off with a simple question: What is Zduńczyk’s general approach or set of procedures that he goes through when he begins to connect with the markets in the mornings? How does he begin to decide if he should trade on any given day or stay …

Bitcoin (BTC) erased early-month gains on March 2 as fresh market uncertainty erupted over solvency of crypto bank Silvergate. BTC price avoids Silvergate, Coinbase stock slip Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting $23,206 on Bitstamp, down around 1.5% on the day. The pair came under pressure as rumors swirled over the fate of Silvergate, which lost United States exchange Coinbase as a client in a decision the latter said came out of "an abundance of caution." Silvergate had suffered as a result of the FTX implosion, delaying its 10-K report this week and warning that it …

Bitcoin (BTC) is up 42% since the start of 2023, but short term, the outlook may now favor the bears. The latest data paints a problematic picture for BTC price action — investors are greedy, but the mainstream is far from ready to buy. After January’s 40% surge, BTC/USD is having trouble reaching for resistance higher up the chart. As Cointelegraph reported, the pair spent the whole of February simply consolidating its prior gains, making it likely the least volatile month on record. Judging by current moves, however, that consolidatory phase may soon be over — but not work out …

Bitcoin (BTC) bulls laid most of their options at $24,500 and higher for the March 3 options expiry, and given the recent bullishness seen from BTC, who can blame them? On Feb. 21, Bitcoin price briefly traded above $25,200, reflecting an 18% gain in eight days. Unfortunately, regulatory pressure on the crypto sector increased and despite no effective measures being announced, investors are still wary and reactive to remarks from policymakers. For instance, on Feb. 23, U.S. Securities and Exchange Commission Chair Gary Gensler claimed that "everything other than Bitcoin" falls under the agency's jurisdiction. Gensler noted that most crypto …

Bitcoin (BTC) was marginally positive in February even though the S&P 500 index (SPX) fell by 2.61%. On the first day of March, Bitcoin has started on a positive note while the United States equities markets are struggling. This shows that Bitcoin is trying to decouple from the U.S. equities markets. A positive sign is that retail traders seem to have made the most of the crypto bear market. Instead of panicking and selling their holdings, traders have purchased at lower levels. Glassnode data shows that wallets holding at least one Bitcoin have consistently risen and are nearing the 1 …

Bitcoin (BTC) moved just 0.03% last month in U.S. dollar terms, making February 2023 likely its least volatile in history. Data from Coinglass from after the monthly close confirms that BTC/USD went practically nowhere for four weeks straight. Bitcoin monthly candle barely leaves a trace To say that Bitcoin is less volatile than it was is something of an understatement when it comes to February. Despite its ups and downs, mostly due to macroeconomic data, BTC price action finished the month almost exactly where it began at around $23,500. That means that Bitcoin was more stable than a raft of …