Bitcoin moved closer to $25,000 on Tuesday, as banking withdrawals rose following the collapse of Signature Bank and Silicon Valley Bank. Reports suggest that withdrawals at the likes of JPMorgan and Citibank are nearing a ten-year high. First Republic Bank has been another major firm to fall, with its stock dropping by over 60% on Monday. Ethereum was also higher in today’s session.

Bitcoin

Bitcoin (BTC) extended recent gains on Tuesday, as prices rose higher for a fourth consecutive session.

Banking stocks were significantly lower to start the week, with investors seemingly moving capital towards cryptocurrencies.

Following a low of $21,918.20 in yesterday’s session, BTC/USD surged to an intraday peak of $24,851.62 earlier in the day.

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Author: Eliman Dambell

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