Bitcoin (BTC) has begun a new week by processing major macroeconomic news, including the second-largest bank failure in US history. Following a weekend of trading sideways, BTC/USD was already volatile as the new weekly and monthly candle began and downward pressure mounted. With First Republic Bank being placed in public receivership and taken over by JPMorgan Chase, BTC price action is already facing potential pressure. This move, announced during Asia trading but before the Wall Street open, precedes an already heavy week in which the Federal Reserve will reveal its next interest rate shift.
Second-biggest US bank failure — 5 things to know in Bitcoin this week
