Rattled crypto industry could emerge stronger after USDC depeg
USD Coin (USDC), the world’s second-largest stablecoin, has recently faced a depegging from the US dollar, dipping to as low as $0.85, before recovering to $1.00. The USDC had deposited $3.3 billion of its cash reserves with Silicon Valley Bank (SVB), a commercial bank, which faced significant challenges amid rapidly rising interest rates. The depegging […]
FDIC extends bidding for Silicon Valley Private Bank, Silicon Valley Bridge Bank
The Federal Deposit Insurance Corp. announced on Monday that it will extend the bidding process for the former units and assets of Silicon Valley Bank, which was renamed to Silicon Valley Bridge Bank after being taken over by the government on March 10th. According to the FDIC, multiple parties have shown considerable interest, and the […]
GBP/USD looks to have a good chance of holding and extending gains – Scotiabank
GBP/USD is back above the 1.22 level, marking a significant recovery after a period of weakness. Economists at Scotiabank expect the GBP to maintain its momentum and test the 1.2290/00 level. The sentiment towards the GBP has improved in recent weeks, with the currency benefiting from several factors, including a more stable political outlook in […]
Fed to pause this week because of bank stress: Goldman Sachs
Goldman Sachs Economist Predicts No Interest Rate Increase Due to Banking System Stress A note published by Goldman Sachs economist, David Mericle, on Monday morning suggests that the Federal Reserve will not lift the interest rates at the upcoming meeting due to banking system stress. Mericle raised his concerns for the small and midsize banks […]
Ethereum (ETH) Has Door Open to $2,000 and Higher, Santiment Shares Reason
Ethereum (ETH) Is Poised to Soar above $2,000 and Beyond On Sunday, Ethereum, the world’s second-largest cryptocurrency by market capitalization, reached a seven-month high, reaching a price level of $1,840. The Santiment analysis team believes that Ethereum has the potential to surpass $2,000 as the network has not yet encountered any significant barriers or heated […]
How did Gold Miners ($GDX) provide an intraday setup last week?
Rewrite and expand this content to 800 words In today’s article, we will look at the past performance of the 1 Hour Elliottwave chart of $GDX. The rally from 3.09.2023 low unfolded as 5 waves whi
Bitcoin (BTC) Price Climbs Past $28,000 For the First Time In Nine Months, Bull Party Started?
Bitcoin (BTC) Price Climbs Past $28,000 For the First Time In Nine Months, Bull Party Started? The world’s largest cryptocurrency, Bitcoin (BTC), seems to be on a very strong footing and surged past $28,000 on Sunday, March 19, for the first time since June 2022. However, there has been a partial pullback since yesterday’s top, […]
Crude Oil Futures: Extra weakness in the pipeline
Rewrite and expand this content to 800 words CME Group’s flash data for crude oil futures markets noted traders increased their open interest positions for the third straight session on Friday, n
Fears of banking turmoil propels further downside, oil drops on steady PBOC
Asian Stocks Continue to Decline Amid Banking Turmoil Fears Asian stocks are facing significant selling pressure as fears of a global banking crisis continue to deepen. The US Dollar Index (DXY) is also experiencing a lackluster performance, suggesting that the market is preparing for fresh action ahead of an anticipated interest rate policy announcement by […]
Binance Adds GNS and More Pairs on Cross Margin & Isolated Margin
Binance Adds GNS and More Pairs on Cross Margin & Isolated Margin Cryptocurrency exchange Binance has announced the addition of a new borrowable asset, GNS, on both its Cross Margin and Isolated Margin platforms. In addition, the exchange has also introduced new margin pairs to its platform. The new Cross Margin pairs include GNS/BTC and […]