Press Release Today TheBitTimes.com

Bitcoin traders always talk about BTC’s correlation with gold and equities, but how much attention should average investors pay to this discussion? Some news sources have been fond of making comparisons between Bitcoin’s (BTC) price action and that of other assets. In particular, the two most commonly compared asset classes are gold and tech stocks. While a correlation holds, it tends to be a big news story. Throughout much of 2022 and early 2023, for example, the “Bitcoin trades in tandem with tech stocks” narrative was prevalent. Since that correlation has broken down, however, there doesn’t seem to be much related news coverage. Now a new narrative has taken the spotlight: that of Bitcoin’s correlation to gold. Ever since the failures of Silvergate, Signature Bank, and Silicon Valley Bank in March, both assets have rallied. Both of these narratives make sense on the surface. If Bitcoin is to be seen as a speculative asset, then it might trade similar to a tech stock. And if Bitcoin...

PacWest Bankcorp shares tumbled 54% after hours today, following new reports that the bank is weighing a sale. The west regional bank has been assessing strategic options for a potential sale, according to Bloomberg. JUST IN: PacWest Bankcorp $PACW sinks 54% in after-hours following news the bank is exploring a sale. pic.twitter.com/tIKGxYmWli — Watcher.Guru (@WatcherGuru) May 3, 2023 Since the collapse of Silicon Valley Bank in March, and the bank being seized by the government, the shares of many West Coast regional banks have seen a hit. PacWest Stocks are already down 72% this year and may see more hits in the near future if the reports are true. PacWest reports that total deposits declined more than $5 billion in the first quarter to $28.2 billion as of March 31. However, the company says that it saw a net gain of $1.1 billion in deposits from March 20 until the quarter’s end. The Bank also said that deposits grew by another $700 million from March 31 thr...

Bitcoin faces a new round of potential volatility catalysts over the coming week after BTC price sheds 10%. Bitcoin (BTC) is keeping everyone on their toes when it comes to price trajectory — where will it go next? BTC price down 10% after bad week  After a week in which BTC/USD fell by 10%, sentiment is getting a reset and traders are eyeing key support levels closer to $25,000. At the same time, consensus is far from unanimous over market health — some believe that the next phase of upside is around the corner. As macro markets gear up for a new period of crucial data and moves from the United States Federal Reserve, volatility catalysts are waiting in the wings, with Bitcoin potentially not staying calm for long. Cointelegraph takes a look at the upcoming scenarios that could cause BTC/USD to quit its short-term sideways trading pattern. Will the Fed call the market's bluff? It may be all quiet so far when it comes to macroeconomic triggers this week, but that is about to chan...