Banking Crisis Redux: Bitcoin Priced In First Republic Bank Shares Rockets Higher

2023-4-26 22:42

Bitcoin rallied earlier this year on the back of some of the biggest bank runs in decades. The banking sector crisis could be making a comeback, according to a second-leg up in BTC priced in First Republic Bank shares. Take a look below.

Bitcoin Priced In Banks Gets Another Leg Up

Several banks struggled to meet a sudden influx of depositors seeking to withdraw funds this past March. The crisis in the banking industry kickstarted a massive surge in Bitcoin price.

The top cryptocurrency soared relative to USD, but when priced in bank shares of the afflicted banks, the charts were simply breathtaking to see. Now, as shares of First Republic Bank plummet another 40% and more than $100 million in deposits flee the bank, BTC priced in bank shares is making another leg up.

Priced in bank shares, BTC never made a second high in 2021. Later in March of this year, there is a massive breakout through downtrend resistance. Another leg up here could indicate that the issues across the banking industry aren’t over, and could even be escalating.

Why First Republic Bank Stock Shares Are Plummeting

First Republic Bank share price falling is the result of a negative first quarter earnings report. The bank revealed that across Q1, more than $100 million in deposits sought refuge elsewhere.

First Republic CEO Mike Roffler said the bank would be”pursuing strategic options” and “taking steps to meaningfully reduce our expenses to align with our focus on reducing the size of the balance sheet.” The steps include laying off up to a quarter of the workforce, slashing executive level salaries, and more.

Typically, companies will hold a Q&A session with analysts, but First Republic ended the call, bringing back painful memories of the 2008 financial crisis, Reuters reports.

Bitcoin skyrocketing in bank shares isn’t due to BTC being in an unstoppable bull run, but due to extreme weakness in traditional financial institutions. The further shares fall, the higher the top cryptocurrency climbs.

Although this doesn’t directly related to a corresponding increase in USD value, the last time there were a string of bank runs, Bitcoin rallied by more than 40% in several days. What happens this time?

Bitcoin is making another leg up against #FirstRepublicBank pic.twitter.com/XNaaEUL4Aq

— Tony "The Bull" (@tonythebullBTC) April 25, 2023

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Time New Bank (TNB) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.01 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 0.0020147 (-100%)

bank banking shares republic bitcoin crisis priced

Èñòî÷íèê: newsbtc.com

bank banking → Ðåçóëüòàòîâ: 126


Ôîòî:

Banking On A Decentralized Bank

Last week Binance made headlines by announcing its first foray into banking. For a price of $133 million, the exchange had acquired a 5% stake in Malta’s future “Founders’ Bank.” Ordinarily, an investment by one moneymaking organization into another would scarcely deserve mention, except for one fact: ownership of Founders’ Bank will rest on the […] The post Banking On A Decentralized Bank appeared first on Crypto Briefing.

2018-7-20 20:23


Ôîòî:

In Finance Malda, supporting the first authorized bank of the word

Malta-based Founders Bank is to become the first community-owned decentralized blockchain-friendly banking institution in the world’s history. As it has been announced, one of the world’s major cryptocurrency exchanges by traded value Binance will become one of the key investors funding the launch of the first-ever decentralized bank. The future Founders Bank will be hosted

2018-7-13 14:16


Ôîòî:

The Genesis Files: With Bit Gold, Szabo Was Inches Away From Inventing Bitcoin

As his Hungarian parents had fled post-war Soviet regime to settle in the United States, Nick Szabo came to call the Californian Bay area of the 1990s his home. Here, he was among the first to frequent the in-person “Cypherpunk” meetings organized by Timothy May, Eric Hughes and other founding members of the collective of cryptographers, programmers and privacy activists centered around the ’90s mailing list of the same name.

2018-7-13 17:16


India’s Cryptocurrency Banking Ban May Be a Bust

After much waiting and speculation on the July 5 deadline, India may forgo banning investment in cryptocurrency after all. Indian Ban May Be a Bust The three-month time span from the Reserve Bank of India’s initial announcement that all RBI regulated entities must cease any crypto related activities, including both individuals and firms, was filled with speculation.

2018-7-11 15:00


South Asian Banking Ban dealine around the corner, causing Zebpay exchange to stop.

One of India’s largest exchanges Zebpay announced it was freezing Indian rupee deposits and withdrawals July 4, a day before a controversial bank ban on cryptocurrency businesses comes into effect. “INR deposits and withdrawals have been paused in the Zebpay app until banks allow us again,” an update to the original warning reads. On Tuesday,

2018-7-5 21:00


Ôîòî:

Indian Supreme Court attended Crypto Petition but Upholds RBI Ban – Will get effective in 2 days.

Regulation The Indian Supreme Court heard one petition against the crypto banking ban by the country’s central bank today. Japan Confirms Entrance Into the Crypto Space No Stay Granted by Supreme Court The Supreme Court of India heard one petition against the crypto banking ban imposed by the Reserve Bank of India (RBI) on Tuesday,

2018-7-3 19:04


ABM AMRO Bank Keynote Speaker Says Blockchain Will Overthrow Banking System of Today

According to an executive at the Dutch financial institution ABM AMRO Bank, the banking system that we currently know may be overthrown by blockchain technology. The company is already working with financial institutions that use Hyperledger technology with the intention to offer new financial services and products, including the tokenization of securities. An executive of […]

2018-6-30 23:49


Cryptocurrency still cruising as US Federal Reserve Bank Recognizes it

One of the 12 regional Reserve Banks in the US central banking system, The Federal Reserve Bank of St. Louis, have added four cryptocurrencies to its database. Bitcoin, its off-spring from a fork, Bitcoin Cash, Litecoin, and Ethereum are the four cryptocurrencies which were chosen and daily data on their prices will be listed on […] The post Cryptocurrency still cruising as US Federal Reserve Bank Recognizes it appeared first on ZyCrypto.

2018-6-28 17:44


Complacent Investors Are Blind To How Fragile The Markets Truly Are

Today – bank stocks recorded their longest losing streak – ever. The S&P 500 Financial Index is down for the 12th straight day. The irony of this is that for the last year we’ve seen stocks rally on the expectations that the banking sector would do well from Trump’s tax cuts, looser regulations, and most importantly – rising rates. But that’s […]

2018-6-28 04:21


Malaysian Crypto Company Belfrics Group Resumes Their Digital Currency Exchange in India

Belfrics Group, a Malaysia-based crypto exchange, will resume its operations in India after a six-month hiatus. The company shut down its digital currency exchange earlier this year before the Reserve Bank of India officially announced a ban on banking companies, payment companies, and NBFCs supporting with crypto entities.

2018-6-27 16:35


Ôîòî:

The Central Banks Of Australia And New Zealand Against Cryptocurrencies

The trend of ‘central banks’ talking about cryptocurrencies is warming up once more, with The Reserve Bank of Australia (RBA) and The Reserve Bank of New Zealand (RBNZ) weighing in on the debate. The pair have moved to debunk rumours that they are investigating in establishing their own central bank digital currency, on the basis that they believe such a project would inevitably damage their current banking system.

2018-6-26 17:00


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Brett Surges Almost 20% as New Base Chain Meme Coin DAWGZ Hits $2M in ICO

The Base blockchain continues to grow – with two joke tokens making headlines this week. Brett (BRETT), Base’s largest meme coin, has surged almost 20% in the past 24 hours. Hot on its tail, newcomer Base Dawgz (DAWGZ) is also causing a stir, having raised over $2 million since its ICO went live at the beginning of the month.

Spot Trading on Zenit World: Explained

In the ever-evolving world of cryptocurrency, having a reliable and accessible platform for trading is crucial. Zenit World steps into this arena, offering a user-friendly platform specifically designed for spot trading.