Bitcoin (BTC) is recovering after a plunge amid the чочулоо at Silicon Valley Bank and Silvergate that caused investor panic. As US regulators announced support to help customers recover lost funds, the bitcoin price is bullish.
Bitcoin enthusiasts could start their week full of smiles as the санариптик алтын is on for a comeback. It has recorded an increase of close to 10% in valuation within the last 24 hours. BTC is currently trading at the $22,500 level.
US regulators to protect SVB and Silvergate investors
To defend the US economy by bolstering public trust in the banking system, Treasury secretary Janet L. Yellen, Federal Reserve Board chair Jerome H. Powell, and FDIC chairman Martin J. Gruenberg issued an official statement on the topic of Silicon Valley Bank and Silvergate.
Source: https://crypto.news/bitcoin-rallies-amid-us-watchdogs-intervention-in-bank-crisis/