The bailout of Silicon Valley Bank provided a significant advantage to BTC bulls on the weekly $1.2 billion BTC options expiry.
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The rejection that followed Bitcoin’s (BTC) rally to $26,500 may appear to be a victory for bears, but $24,750 on March 14 was the highest daily close in nine months. Furthermore, Bitcoin has gained 26.5% since March 10, when the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB).
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The recent price increase could be attributed to various factors, including the extraordinary $25 billion funding by the Federal Reserve and the United States Treasury on March 12, which reduced banks’ systemic risks. Nonetheless, Bitcoin bulls
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