Circle Has $3.3B SIVB Exposure, Crypto Daily TV 13/3/2023 $USDC

BTC rises on govt. plan to protect all SVB depositors.

The price of bitcoin rose above $21,400 after the Washington Post reported that U.S. federal authorities are considering safeguarding uninsured deposits at Silicon Valley Bank should a buyer not be found for the institution, which collapsed last week following a $42 billion bank run.

Crypto group Circle admits $3.3bn exposure to failed Silicon Valley Bank.

Circle, the operator of one of the world’s largest stablecoins, has said $3.3bn of its reserves are trapped in Silicon Valley Bank, triggering a fall in the value of its token as the crypto market reels from the failure of two US banks this week.

Major bitcoin fraud case rattles Egypt.

Eyptian authorities have succeeded this month in partially unraveling one of the largest cases of online fraud in the country to date by arresting the members of a network that established a fake digital currency platform and deceived thousands of people into readily handing over their life’s savings.

BTC/USD exploded 3.3% in the last session.

The Bitcoin-Dollar pair skyrocketed 3.3% in the last session. The MACD is giving a negative signal. Support is at 19489.3333 and resistance at 21307.3333.

The MACD is currently in negative territory.

ETH/USD exploded 4.0% in the last session.

The Ethereum-Dollar pair skyrocketed 4.0% in the last session. The Ultimate Oscillator is giving a positive signal. Support is at 1384.351 and resistance at 1519.151.

The Ultimate Oscillator is giving a positive signal.

The last session saw XRP fall 0.9% against USD.

The Ripple-Dollar pair fell 0.9% in the last session. The RSI is giving a negative signal. Support is at 0.3504 and resistance at 0.3805.

The RSI is giving a negative signal.

LTC/USD exploded 4.2% in the last session.

The Litecoin-Dollar pair skyrocketed 4.2% in the last session. The RSI indicates an oversold market. Support is at 60.7133 and resistance at 77.9933.

The RSI points to an oversold market.

Daily Economic Calendar:

US 3-Month Bill Auction

Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive by holding the bond until maturity. The US 3-Month Bill Auction will be released at 15:30 GMT, the US 6-Month Bill Auction at 15:30 GMT, the Eurozone’s Eurogroup Meeting at 07:00 GMT.

US 6-Month Bill Auction

The auction sets the average yield on the bills auctioned by US Department of Treasury. Treasury bills are short-term securities maturing in one year or less. The yield on the bills represents the return an investor will receive.

EMU Eurogroup Meeting

Eurogroup meetings are attended by the Eurogroup President, the Finance Minister of each Member State of the Euro area, the Commissioner for economic and monetary affairs, and the President of the European Central Bank.

SG Unemployment Rate

The Unemployment Rate measures the percentage of unemployed people in the country. A high percentage indicates weakness in the labor market. Singapore’s Unemployment rate will be released at 02:30 GMT, Korea’s Export Price Growth at 21:00 GMT, Korea’s Import Price Growth at 21:00 GMT.

KR Export Price Growth

The Export Price Growth measures changes in the prices of exported goods and services.

KR Import Price Growth

The Import Price Growth measures changes in the prices of imported goods and services. Changes in import prices may affect inflation and consumption.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.