2nd biggest US bank failure — 5 things to know in Bitcoin this week
The failure of First Republic Bank marks a volatile beginning to a busy macroeconomic week, while Bitcoin already faces downside pressure. Bitcoin (BTC) starts a new week digesting major macroeconomic news as the United States sees the second-largest bank failure in its history. After a sideways weekend, BTC/USD was already volatile into the new weekly and monthly candle as downside kicked in. After steadying below $29,000, BTC price action is already facing more potential pressure as First Republic Bank is placed in public receivership and taken over by JPMorgan Chase. The move, announced during Asia trading but before the Wall Street open, precedes an already heavy week in which the Federal Reserve will reveal its next interest rate shift. With a lot to take in, the potential for continued surprises on crypto markets is clearly in evidence. Cointelegraph takes a look at these risks and more in the weekly rundown of crypto, and specifically Bitcoin, price triggers. BTC price volatil...