Bitcoin hits $28k as uncertainty surrounds banks

At the clip of writing, the starring cryptocurrency is trading astatine $28,063, a 2.4% summation successful the past 24 hours. The terms reached $28,459 astatine its highest constituent during the day, earlier trading astatine $26,877 during the day's low.

Overall this week, Bitcoin has gained implicit 37% against the U.S. dollar. Bitcoin's marketplace capitalization added $194 cardinal successful 2023, representing a 66% summation year-to-date, outperforming Wall Street banks stocks particularly arsenic fears of a planetary banking crisis are rising.

United States slope valuations person slid amid the ongoing fearfulness surrounding determination banks successful the state pursuing past week's developments, including the unopen down of Silvergate, followed by regulators' consequent takeover of Signature Bank and Silicon Valley Bank.

Bitcoin's (BTC) terms surged connected March 19 to surpass the $28,000 zone, marking a 16% boost successful worth successful the past 7-days, according to Cointelegraph's MarketPro data. 

This is simply a processing story, and further accusation volition beryllium added arsenic it becomes available.