Crypto markets slid alongside traditional markets as fears over a looming banking crisis.
After soaring past $26,000 on Tuesday and reaching a 10-month high, Bitcoin was trading at around $24,400 as of 5 pm EDT.
Ether was also down, priced at $1,650.
BTC/USD Chart by TradingView
Credit Suisse fell 14%, though shares were trading higher in after-hours after Switzerland’s central bank and financial regulator said they would provide a liquidity backstop if necessary, Bloomberg reported.
Credit Swiss Chart by TradingView
In traditional U.S. markets, the S&P 500 fell 0.7% while the Nasdaq 100 was little changed. Galaxy Digital was down 7% and MicroStrategy 0.8%, while Coinbase rose 2.9%.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://www.theblock.co/post/220360/crypto-markets-seesaw-amid-credit-suisse-banking-crisis-traditional-markets-tumble?utm_source=rss&utm_medium=rss