.jpg)
A lot of people put their calling for the FED to cut off and stop raising rates because you push more banks over the hedge. These banks are deeply exposed to bonds and mortgage-backed Securities. They keep getting hit hard as interest rates go up. Bitmax CEO pointed out that if the FED raises rates again then quite a few more Banks are going to collapse over the next few weeks. The prices of many of these Regional Banks in the United States are already in free fall.
The FED has very limited options here about what they can do. It's either they cut rates and then signal that more rates are coming which could ease some fears in the market. That would potentially resolve the banking crisis as we see it right now or the FED raise rates and accepts that dozens more that more banks will collapse and chaos will happen in the market. They will need to increase the bank bailout program to include just any loan on any US chartered bank's balance sheet in other to stop the worse outcomes. The Federal Reserve wanted to break the job markets, they wanted for you to lose your job. Instead, they broke the American banking system.
Bitcoin just put a new record for daily transactions at a little over half a million, 568,000 to be precise. The same day a major United States bank collapsed, Bitcoin sets a new all-time high for daily transactions. It is largely driven by the excitement around Bitcoin originals. Bitcoins whale buying whales Bitcoin again, they did take profits over 30k but since then address hold between 10,000 Bitcoin have actually added a total of 64,000 coins. That is equal to two and half months of mining sell pressure, that is what miners are mine over two and half months or it's worth two times the Silk Road 31,000 Bitcoin that everyone is so scared of. We also have the Bitcoin shrimp, anybody with less than one Bitcoin. Combine these retail buyers, who are right now buying more Bitcoin every single month than the miners are producing.