Updates over the weekend: Gold hits ATH, Bitcoin hits $28,000, UBS buys Credit Suisse
Quick Take
What happened over the weekend?
- UBS bought Credit Suisse for $3.2 billion
- Swiss National Bank offers $100 billion in liquidity as part of the UBS deal.
- This is a 73% discount on Friday on Credit Suisse’s closing price.
- UBS credit default swaps have doubled since news broke that it would rescue Credit Suisse.
- Gold hit an all-time high of $1,988 during Friday’s session
- Bitcoin broke through $28,000 and broke through 200WMA
- Bitcoin investors are extremely bullish as spot and derivatives volume is the highest over a year.
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Author: James Van Straten
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