Bitcoin was trading above $22,400 Monday afternoon and squarely in the narrow range it’s occupied since last Thursday even as Silvergate fallout has widened. _jocelynyang_ reports
BTC and ETH have tumbled about 3.1% and 2.5%, respectively, over the past seven days. A report from crypto data firm Kaiko highlighted that the funding rates of these two assets turned negative last week, suggesting bearish market sentiment.last week that the impact of recent events – notably the FTX exchange collapse and subsequent regulatory actions – raised questions about the bank's ability to"continue as a going concern.
“The first crypto bull market to attract institutional involvement ended not too long ago, and many still needed to prepare for a steep market drop,” he said. “Unfortunately, those that didn't are paying the price.”
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