Bitcoin started the U.S. trading week edging below $28K, part of a downward spiral that began Sunday. Investors have been weighing industry and macroeconomic uncertainty and will be eyeing the FOMC's meeting, which starts Tuesday. By _jocelynyang_
The largest cryptocurrency by market capitalization was recently trading at about $27,800, down over 5% over the past 24 hours, according to CoinDesk data. BTC had been hovering around $28,500 as U.S. markets opened and it was announced banking giant JPMorgan had won the auction to purchase First Republic assets.that the fast response to First Republic’s implosion showed the banking sector was prepared to address these types of crises.
San Francisco-based First Republic is the fourth bank to fail in the past two months, following Silvergate, Silicon Valley and Signature banks. Equities were closing lower Monday, with the S&P 500, Wall Street's benchmark equity index, down 0.04%. Both the Dow Jones Industrial Average and tech-heavy Nasdaq Composite recently slid 0.1%.
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