Silicon Valley Bank (SVB): while the CAC 40 stalls, Bitcoin explodes 24,000 dollars

Silicon Valley Bank (SVB): while the CAC 40 stalls, Bitcoin explodes 24,000 dollars

The CAC 40 has a hangover – In recent days, in the ocean of financial markets present a strong swell which would make any freshwater sailor or inexperienced cabin boy lose his footing. Yet the central bankers of the Federal Reserve American (the Fed) deprived themselves of rest this Sunday to release a $25 billion bailout fund. This, in order to avoid other deadly liquidity criseslike those of the Silicon Valley Bank (SVB). But this does not yet seem sufficient for the CAC 40.

>> Why limit yourself to stablecoins? Sign up on Binance, and save 10% in fees (commercial link) <<


The Silicon Valley Bank crisis affects the CAC 40 and the French equity market

If there have not yet been other catastrophic explosions (for now), the equity markets are clearly not yet very reassured. This Monday, March 13, 2023, in the middle of the afternoon (Paris time), the French flagship index, the CAC 40turns like this to red.

As the reports in particular the newspaper Les Echos, the very slight drop this morning at the opening of the Paris Stock Exchange has turned into more significant loss. The CAC 40 lost close to -3% since 9 a.m. this morning. The index even has crossed downwards its symbolic threshold of 7,000 stitches briefly, and struggles to survive around this threshold at the time of this writing. It must be said that the American stock exchanges NASDAQ and NYSE have just opened, which could rock the markets for a few more hours (at least).

Unlike the CAC 40, and in a interesting decorrelationTHE bitcoin price is doing quite well and goes over $24,000. THE reassuring words from Circle on his stablecoin USDC (which has recovered its indexation on the US dollar) seem to have back in a good mood the crypto-asset market. But if dominoes continue to fall on the side of the banking sector, this improvement may not last. Stay well attached to the railing!

Take advantage of the opportunities to buy low-cost cryptos that the market offers us! To not miss the opportunity of a lifetime, register quickly on the Binance platformSave 10% on your trading fees by following this link (trading link).

Last Verdict

To get more updates about the insurance you can follow our website or can bookmark it.

Leave a Reply

Your email address will not be published. Required fields are marked *