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Silvergate triggered yet another mini crypto sell-off

Silvergate triggered yet another mini crypto sell-off

Market picture

Bitcoin plunged more than 6% to $22.0K early this morning. The plunge into this area came as a market reaction to the potential bankruptcy of Silvergate. The news triggered a wave of stop orders on fears that the situation could cause a domino effect in the industry, as with FTX earlier in the day.

Technically, the dip has pushed the price below its 50-day moving average, which does not bode well for the short-term outlook, although this signal will only be reliable... Read More

Posted: Mar 3 2023, 11:59
Author Name: forexlive
Views: 111611

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