CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77.48% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

77.48% of retail investor accounts lose money when trading CFDs with this provider.

Crypto Update: Slivergate | Crypto Fallout | Bitcoin Analysis after 8% Plunge

Published: 10.03.2023
by Joseph Jeffriess

Crypto bloodbath after Silvergate liquidation news.

Thursday was not a great night for crypto as prices fell after news that Silvergate will head to liquidation. This is also feeding regulation fears and has also put up a liquidity hole in terms of dollars as Silvergate was a key participant allowing users to exchange US dollars.

As seen on charts this morning, it rattled the markets and sent coins tumbling. In today’s video, we have run over our thoughts on these points, and we have taken a good look at bitcoin technically and given some thoughts on what we are watching price-wise and a few technical scenarios.

The fallout from Silvergate is definitely a key driver right now, but we also have US employment data coming out today, and depending on what hits the market, this could impact the USD and, in turn, influence an already fragile crypto market.

Check out our analysis video. 

Bitcoin fell by just over 8%, in today’s video we have broken down bitcoins price action.


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