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Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week

Bitcoin (BTC) begins a new week with a bullish surge above $22,000 as the Federal Reserve injects liquidity into the United States economy.

In a move which can rival any classic Bitcoin comeback, BTC/USD is up a full 15% off the two-month lows seen on March 10.

The volatility — and at least temporary relief for bulls — is all due to events in the U.S. after the failure of one bank and the forced halting of another’s operations.

Silicon Valley Bank and Signature Bank are the latest victims in a brutal year for financial institutions under the Fed’s rising interest rates — will the trend continue?

Despite Signature being crypto focused and a major on-ramp from fiat, crypto markets have so far seen no reason to abandon optimism at the prospect of the Fed providing fresh money.

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Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week

Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed.

Euler Finance hacked for over $195M in a flash loan attack

Euler Finance became the victim of a flash loan attack where the exploiter managed to drain hundreds of millions worth of decentralized stablecoins and synthetic ERC-20 tokens.

Coinbase CEO ponders banking features after Silicon Valley Bank crisis

Coinbase CEO Brian Armstrong says the exchange has previously considered adding features to become a neo-bank of sorts.

Binance CEO announces recovery funds conversion from BUSD to 'native crypto'

Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC.

Binance CEO announces recovery funds conversion from BUSD to 'native crypto'

Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC.

Solo Bitcoin miner defies odds to mine valid BTC block, gets $150K block reward

The act of mining a valid BTC block solo is so rare that the event has occurred only 270 times out of the 700,000 blocks produced in the last 13 years.

Solo Bitcoin miner defies odds to mine valid BTC block, gets $150K block reward

The act of mining a valid BTC block solo is so rare that the event has occurred only 270 times out of the 700,000 blocks produced in the last 13 years.

Breaking: Silicon Valley Bank UK arm acquired by HSBC for one pound

Banking giant HSBC announced that its U.K. arm is acquiring Silicon Valley Bank UK Limited (SVB UK) for one pound ($1.21).

Binance US, Alameda, Voyager Digital and SEC — the ongoing court saga

Court cases involving the U.S. SEC and some major crypto industry enterprises - Voyager Digital, Alameda Research and Biance - have continued to progress throughout 2023.

‘Nobody left to bank crypto companies’ — Crypto Twitter reacts

Prominent members of the crypto community have expressed uncertainty after the loss of crypto friendly banks.

‘Nobody left to bank crypto companies’ — Crypto Twitter reacts

Prominent members of the crypto community have expressed uncertainty after the loss of crypto friendly banks.

Biden vows to hold those responsible for SVB, Signature collapse

US President Joe Biden on Twitter said he is "firmly committed" to holding those responsible for the Silicon Valley Bank and Signature Bank collapse "fully accountable."

Biden vows to hold those responsible for SVB, Signature collapse

US President Joe Biden on Twitter said he is "firmly committed" to holding those responsible for the Silicon Valley Bank and Signature Bank collapse "fully accountable."

U.S. authorities preparing 'material action' to curb SVB contagion

The White House assessed the impact of Silicon Valley Bank's failure over the weekend with a keen attention to venture capital firms and regional banks.

How blockchain technology revolutionizes digital ownership?

Blockchain technology transforms digital ownership with secure and transparent ownership tracking. Explore how it establishes proof of digital ownership.

FDIC bidding for Silicon Valley Bank is in progress: Report

The FDIC has reportedly started an auction process on late Saturday for Silicon Valley Bank. Bids are open for just a few hours.

Watch these 5 cryptocurrencies for a potential price rebound next week

Traders dumped risky assets following the crisis and failure of Silicon Valley Bank (SVB). The S&P 500 Index plunged 4.55% while Bitcoin (BTC) is down about 9% this week. 

The collapse of SVB led to a crisis in the crypto space with USD Coin (USDC) losing its peg to the U.S. dollar on reports that $3.3 billion of Circle’s $40 billion of USDC reserves were held at SVB. After trading near $0.87 on March 11, USDC has climbed up above $0.96 at the time of publication.

SVB’s failure has increased uncertainty in the short term with investors closely watching for any signs of the contagion spreading to other regional banks across the U.S.

Crypto market data daily view. Source: Coin360

During times of uncertainty, it is best to stay on the sidelines. However, if there is no domino effect following SVB’s debacle, select cryptocurrencies may start their recovery. The cryptocurrencies selected in the article are all trading above the 200-day simple moving average, a key level watched by long-term investors to determine whether the asset is in a bull or bear phase.

Let’s study the charts of Bitcoin and the four altcoins that may outperform if the sector witnesses a recovery over the next few days.

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Watch these 5 cryptocurrencies for a potential price rebound next week

Bitcoin is trying to sustain above $20,000 and if it succeeds, ETH, MATIC, TON, and OKB may witness a strong recovery.

UK regulators moving “at pace” to deliver a plan for tech firms hurt by SVB collapse

An emergency plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom.

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