Bitcoin Dips to $21K Amidst Silvergate Drama
While the crypto currency community is still recovering from the infamous FTX crash, Silvergate Capital’s shutdown seems to be impacting the market. Bitcoin [BTC], the world’s largest crypto currency dipped to a low of $21K and certain altcoins followed suit. BTC was trading for $21,719.92 with a 1.34% daily drop. Considering the increased number of sellers in the market, the asset is speculated to fall lower. Source -BTC/USDT Chart on TradingView After a healthy January and a stable February, March proved to be a downer for the king coin. The Relative Strength Index [RSI] indicator revealed that Bitcoin was currently in the oversold zone. This bearish signal could push BTC down to its immediate support level of $21,367. Amidst this, the daily trading volume of BTC plunged. At press time, the trading volume of Bitcoin was at $21,538,647,472 with an 11.79% plummet. More than half of Bitcoin holders remain in profit despite latest drop Bitcoin’s...