Silicon Valley Bank (SVB) failed on March 10, and the bitcoin (BTC) price has been on a tear since then. According to CoinMarketCap, the current Bitcoin price is $27,452.41. Its daily trading volume is $47,215,804,393. Bitcoin has gained 4.89% in the last 24 hours, with a current market capitalization of $530,402,426,836.
BTC kickstarts the bull run
BTC was trading around $19,600 in the early hours of March 10. After that, it wavered just above and below $20,000 until around 12 p.m. ET, when SVB was placed in FDIC receivership. At that point, bitcoin had lost $200, falling below $20,000, before rebounding and spending the rest of the weekend trading above $20,000.
It was trading at $22,386 on Monday, March 13, at 9:30 a.m. ET. Then the good times started. Only 24 hours later, BTC was trading at $26,175, briefly approaching $26,500. It was around $27,452 at the time of publication. And so the games begin.
Source: https://www.cryptopolitan.com/btc-surges-above-27k-crypto-bull-run/