Bitcoin label slides 5% in 60 minutes amid Silvergate uncertainty

Bitcoin label slides 5% in 60 minutes amid Silvergate uncertainty

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BTC/USD
-0.04%
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SI
+0.87%
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The price of Bitcoin (BTC) fell extra than 5% from $23,500 to $22,240 in barely over 60 minutes on March 3, amid a wave of uncertainty concerning crypto-friendly bank Silvergate Capital (NYSE:SI).

The price fall wiped $22 billion from Bitcoin’s complete market capitalization, which is now at $430.9 billion, in accordance with Cointelegraph Markets Reliable.

<em>Bitcoin label chart. Provide: Cointelegraph Markets Reliable.</em>
<em>Ether label chart. Provide: Cointelegraph Markets Reliable.</em>

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