It’s safe to say that Bitcoin’s price has seen better days. The cryptocurrency fell below $20,000, reaching an intraday low at around $19,791 (on Binance) and charting a decline of around 8% in the past 24 hours alone.

That said, the move didn’t come without its catalysts, so let’s have a look at five potential reasons why it happened.

Silvergate Bank

On March 2nd, Silvergate Bank – a financial institution that used to serve a myriad of crypto heavyweights – said that it’s going through operational issues and that it won’t be able to file its financial reports in time. Some experts believed, at the time, that most of the damage in terms of market impact is done, but that obviously wasn’t the case.

Not long after that, however, the bank announced that it was entering a procedure of voluntary liquidation, saying they think that was the best course of action.

In light of recent industry and regulatory developments, Silvergate believes that an orderly wind-down of Bank operations and a voluntary liquidation of the Bank is the best path forward.

Silicon Valley Bank

While it may seem unrelated to crypto, it’s important to keep in mind that the industry is part of the broader fintech field, which undoubtedly took a beating throughout the past day, at least on a macro level.

One of the largest financial institutions and also a massive tech VC – Silicon Valley Bank – is going through serious turmoil.

Reuters reported that the bank is struggling to reassure its clients of the safety of their funds following a 60% stock wipe-out.

The latter was caused by the fact that SVB is attempting to raise $1.75 billion through a share sale because it needs to plug a $1.8 billion hole