Bitcoin rate updated (https://www.rbc.ru/crypto/news/64146e659a794787ff57c3d9) the highest in nine months, rising above $27 thousand - to $27.08 thousand. The mark of $27 thousand asset price crossed for the first time since June 13, 2022. According to CoinGecko, as of 17:00 Moscow time, the coin is trading at $26.6 thousand, its value increased by 6.2% during the day.
Over the past 24 hours, the first cryptocurrency rose in price by $1.7 thousand. In the morning of March 17, its price exceeded the mark of $26 thousand after the opening of trading in the markets of Singapore and Hong Kong. During the day the value of the asset fell to $25.7 thousand, and then began to rise again.
During the day, 43.3 thousand traders' positions were liquidated at crypto exchanges for a total of $159 million. According to Coinglass, 76% of them were short. Orders with bitcoin accounted for $87 million, with Ethereum - $30 million. The largest forced position closing occurred on the Bitmex exchange in the pair XBT/USD - for $4.74 million. Somewhere far away rejoices former Bitmex chief liquidator Arthur Hayes, who foresaw this market move and the removal of shorts.
All of these events are related to the start of massive injections of liquidity to banks in need. The Fed launched (https://www.rbc.ru/crypto/news/64146e659a794787ff57c3d9) emergency lending programs for the banking sector (BTFP) to help the industry through the liquidity crisis.
Loans of up to one year will be made to banks and other depository institutions, backed by securities such as Treasury bonds. This should save banks from having to sell these securities quickly in the event of a crisis.
According to the estimation of JPMorgan analysts, the U.S. Federal Reserve System (Fed) may inject up to $2 trillion into the American banking system within the framework of this program, Bloomberg reported. $2 trillion is the nominal amount of bonds held by U.S. banks that are not in the top five, the strategists said. The largest players are unlikely to need these loans, believe JPMorgan.
The U.S. financial authorities have an acute dilemma, either to reduce the rate to save the banks, while letting inflation float. Or increase lending to banks, pumping more trillions into the money market, which will lead to inflation. In reality, all solutions are bad and will definitely have negative consequences.
After all, no one will tell you that the whole story, from the attacks on the two largest cryptocurrency banks in the world, Signature and SVB, to the creation of an intentional banking crisis, is just the beginning of the violent enforcement of CBDC.
All of these coordinated attacks are painfully reminiscent of events that occurred before the creation of the Fed, which was a response to the mass bankruptcy of American private banks, which were essentially state banks. Recall, then, in the early 20th century, large landowners and industrialists, in general, the rich, were being bankrupted.
The complete collapse of the banks was inevitable. Both in the U.S. and in Europe. A plan of action was already in place last fall. A voice like Biden's says that all money will disappear and collapse is inevitable, but we must keep calm and think of ways to prevent a raid on the banks. Let's make sure all the banks are communicating with each other and sharing information in real time using the informal channels we created in October.
We need to use all the power of the media to reassure people that their deposits are safe. We probably won't be able to prevent a collapse, but if we work together we can reduce the impact on us and keep the integrity of the government intact.
You know that the most over-the-top conspiracy lately, very quickly becomes history. Incredible, but a fait accompli.
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