Bitcoin, Ether, and other cryptos are down on Wednesday morning.
Bitcoin BTCUSD fell below $25,000 on Wednesday morning after briefly rallying on Tuesday following the news of the collapse of Silicon Valley Bank and Signature Bank in the past week.
“Global... Bitcoin BTCUSD fell below $25,000 on Wednesday morning after briefly rallying on Tuesday following the news of the collapse of Silicon Valley Bank and Signature Bank in the past week. “Global banking turmoil is triggering a major de-risking moment on Wall Street and that is dragging down everything, including cryptos,” said Edward Moya, a senior financial analyst at OANDA. “When you consider how much stress other asset classes are under, Bitcoin’s dip doesn’t look so bad.”
As a result, some investors are worried about the lack of access to banks that crypto companies now have in the U.S.
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