While the US banking crisis seems to be worsening each day, the crypto market including Bitcoin (BTC) has reacted to this in a positive manner. Over the past weeks, BTC has surged nearly 40% despite the condition of the financial sector.
According to a recent report from economists using the now-bankrupted Silicon Valley Bank (SVB) analysis, more than 186 banks are prone to collapse following the fall of SVB. Per the report, Silicon Valley Bank had a higher capitalization of more than 10% of existing banks.
However, the analysts discovered that 10% of US banks currently have more unrecognized losses than the SVB which means the banking crisis is only expected to intensify over the coming months. Even so, Bitcoin’s continuous rally has proved to be inevitable amid this crisis.
Why Bitcoin Could Continue Rally?
Though the reason behind a Bitcoin rally amid a banking crisis may be quite apparent given the relationship between the…
