{"id":559408,"date":"2023-03-04T13:18:39","date_gmt":"2023-03-04T10:18:39","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-would-retest-25k-without-silvergate-saga-analysis\/"},"modified":"2023-03-04T13:18:39","modified_gmt":"2023-03-04T10:18:39","slug":"bitcoin-price-would-retest-25k-without-silvergate-saga-analysis","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-would-retest-25k-without-silvergate-saga-analysis\/","title":{"rendered":"# Bitcoin price would retest $25K without Silvergate saga \u2014 analysis"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a38948e6775d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a38948e6775d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-would-retest-25k-without-silvergate-saga-analysis\/#%E2%80%9D_Bitcoin_price_would_retest_25K_without_Silvergate_saga_%E2%80%94_analysis_%E2%80%9C\" >&#8221; Bitcoin price would retest $25K without Silvergate saga \u2014 analysis &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-would-retest-25k-without-silvergate-saga-analysis\/#Bad_news_holds_Bitcoin_back\" >Bad news holds Bitcoin back<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-would-retest-25k-without-silvergate-saga-analysis\/#Silvergate_sags_to_all-time_low\" >Silvergate sags to all-time low<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Bitcoin_price_would_retest_25K_without_Silvergate_saga_%E2%80%94_analysis_%E2%80%9C\"><\/span>&#8221; Bitcoin price would retest $25K without Silvergate saga \u2014 analysis &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>Bitcoin (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/3a29a2ad-edc3-42ae-ac01-5cfe4e58e66f.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Bad_news_holds_Bitcoin_back\"><\/span>Bad news holds Bitcoin back<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/BTCUSD\/?exchange=BINANCE\">TradingView<\/a>\u00a0showed BTC\/USD lingering at around $22,350 on March 4.<\/p>\n<p>The pair had managed to avoid further losses after the initial shock around Silvergate wiped 5% off spot price in minutes.\u00a0<\/p>\n<p>With United States equities delivering a strong finish to the week, however, Bitcoin and altcoins remained unable to capitalize on what traders argued would normally be an opportunity for gains.<\/p>\n<p>&#8220;Most global equity indices have now printed higher lows\u2026,&#8221; popular commentator Tedtalksmacro <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/tedtalksmacro\/status\/1631814696524451842\">wrote<\/a> in part of an update overnight. <\/p>\n<blockquote><p>&#8220;If it weren\u2019t for the silvergate fears, BTC would be primed to breach the highs above 25k next week.&#8221;<\/p><\/blockquote>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/7ed067e2-dd81-48a6-ac2d-9902fb75f5fc.png\"><figcaption style=\"text-align: center;\"><em>S&amp;P 500 1-hour candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Cointelegraph contributor Micha\u00ebl van de Poppe, founder and CEO of trading firm Eight, hoped that a comeback for Bitcoin could still hit.<\/p>\n<p>&#8220;Bitcoin dropped from $23,800 to $22,300, while the Nasdaq and S&amp;P were making strong bounces. Matter of time until Bitcoin catches up,&#8221; he <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1631898754566479873\">told<\/a> <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers.<\/p>\n<p>A failed attempt by the U.S. dollar to head higher formed another potential tailwind for crypto, this still unt<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ed as the week&#8217;s trading concluded.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24DXY&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$DXY<\/a> 1D Chart. Daily Is reaching a tough spot for crypto. Testing a KumoCloud breakout a few days in a row here, a break above and crypto likely will go into a bearish trend for a bit. Rejection still possible here, but more volatility ahead for BTC\/Alts while in this range<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\">#BTC<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/h0DZDUaTmf\">https:\/\/t.co\/h0DZDUaTmf<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/GGmLTqrDiY\">pic.twitter.com\/GGmLTqrDiY<\/a><\/p>\n<p>\u2014 KevinCrates (@kevincrates_) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/kevincrates_\/status\/1631727268807741441?ref_src=twsrc%5Etfw\">March 3, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Silvergate_sags_to_all-time_low\"><\/span>Silvergate sags to all-time low<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Silvergate meanwhile <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.silvergate.com\/solutions\/digital-currency\/sen\">halted<\/a> its institutional fiat settlement arm,\u00a0the Silvergate Exchange Network (SEN), on Mar. 3 as concerns around bankruptcy continued to multiply.<\/p>\n<p><strong><em>Related:\u00a03 BTC price hurdles Bitcoin bulls are failing to clear in 2023<\/em><\/strong><\/p>\n<p>As some <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Excellion\/status\/1631863358835277826\">proposed<\/a> alternatives for exchanges, others regretted the bank&#8217;s downfall and hoped that the situation would improve.<\/p>\n<p>Bitcoin advocate Nic Carter <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/nic__carter\/status\/1631742083999444992\">said<\/a> that he had &#8220;always respected Silvergate for being unapologetically pro crypto when virtually no one else was.&#8221; <\/p>\n<p>&#8220;Sad to see their current predicament, hope they make it through the other side,&#8221; he added.<\/p>\n<p>The stock of Silvergate Capital (SI) closed the week at record lows, at one point trading below $5. At its peak during Bitcoin&#8217;s 2021 all-time highs, it traded above $150.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/f20708a1-4556-4b0b-9ebe-fd93d2d7722e.png\"><figcaption style=\"text-align: center;\"><em>Silvergate Capital (SI) 1-week candle chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p class=\"post-content__disclaimer\">The views, thoughts and opinions expressed here are the authors\u2019 alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/bitcoin-price-would-retest-25k-without-silvergate-saga-analysis\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Bitcoin price would retest $25K without Silvergate saga \u2014 analysis &#8220; Bitcoin (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets. BTC\/USD 1-day candle chart (Bitstamp). Source: TradingView Bad news holds Bitcoin back Data from Cointelegraph Markets Pro and TradingView\u00a0showed BTC\/USD lingering at around $22,350 on March 4. The&#8230;<\/p>\n","protected":false},"author":1,"featured_media":559409,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/031f3d5d-ddda-466d-be7c-e6e01a19796b.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,73785],"class_list":["post-559408","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/559408","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=559408"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/559408\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/559409"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=559408"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=559408"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=559408"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}