The next chapter of the U.S. banking crisis doesn't seem like the BTC silver bullet it was in March.
The pair continued a comedown that began after the weekly and monthly candle close, shedding over $1,000 since that time.
The start of the week saw a potential volatility catalyst during Asia trading as First Republic Bank wasAmid suspicions over the legitimacy of the move, First Republic became the second-largest bank failure in U.S. history.to the start of the banking crisis in March, instead tracking lower despite warning signs that another lender might already be in trouble.
This came in the form of PacWest Bancorp, the stock of which, PACW, saw a 7% drop on the day to return to its lowest levels in a month. For Marty Bent, founder of crypto media company TFTC, the behavior was “eerily similar” to First Republic. PACW was down nearly 60% year-to-date on the day, while FRC, now suspended indefinitely, had dived 97%.
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