Viewpoint: Bitcoin may rise again due to the crisis in the U.S. banking sector, as First Republic Bank in the U.S. stock market was suspended twice during trading

2023-04-26 22:01:22

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ChainCatcher news, according to Cointelegraph, some analysts attribute today's significant rebound in Bitcoin to the renewed turmoil in the U.S. banking sector.

According to U.S. stock data, First Republic Bank saw a maximum decline of nearly 20% today, with trading halted twice during the day; the decline has since narrowed to 16%. According to its previously released earnings report, First Republic Bank's customer deposits decreased by 40.8% this quarter due to customer withdrawals. The bank received a $30 billion cash injection in March, but quarterly outflows have exceeded $100 billion.

Additionally, CNBC reports citing sources that the U.S. White House or Treasury Department currently seems unwilling to pressure banks to develop an asset sale plan for First Republic Bank. (source link)

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