Caitlin Long says bitcoin works as insurance amid ongoing bank runs

Caitlin Long, the CEO of Custodia bank, said in a recent interview with CNBC that investing in bitcoin (BTC) is an insurance policy given its incredible performance amidst an ongoing bank crisis.

Timeline of Bitcoin

As Bitcoin (BTC) continues to hang around the $28,000 psychological threshold, demonstrating strength amid the financial crisis that has toppled some of the major banks in the world, its worth to investors becomes more evident, even for those that only decided to join after its all-time high (ATH).

Data shows Bitcoin miners have found some relief recently as their mining revenue has now shot up to the highest level since June 2022. Bitcoin Mining Revenues Have Significantly Deviated From Yearly Average According to the latest weekly report from Glassnode, miners are now raking in $22.6 million per day.

Many people now see crypto, especially bitcoin, as an option to protect investors' money during times of uncertainties in the traditional banking system. The recent banking crisis in the United States has made investors aware of the flaws in the current banking system.

Bitcoin price holds above $28,000 as traders speculate whether more upside momentum still exists. Investors are awaiting the crucial rate hike decision by the U.S. Federal Reserve after the FOMC meeting on Wednesday amid the banking crisis in the U.S. The CME FedWatch Tool indicates there's an 18.1% probability of no rate hike by the The post Bitcoin Bullish Fundamentals Wanes Ahead Of FOMC; Wall Street Estimates appeared first on CoinGape.

As the cryptocurrency market has slowed down its climb over the past few weeks, which has seen Bitcoin's price breach the psychological level of $28,000, the flagship cryptocurrency is painting more bullishness in the future as it seems to be breaking the macro downtrend. The market appears to be pricing in a modest 25 basis The post Bitcoin Price To Defy FOMC Meet Outcome?

The price of XRP suddenly jumped 10% to outperform the top 10 cryptocurrencies by market capitalization. XRP is outperforming Bitcoin and Ethereum in daily gains, as these are up 0.62% and 2.87%, respectively.

Twitter user @anilsaidso has shared a screenshot of a statement made by the mysterious Bitcoin creator known as Satoshi Nakamoto. It is about the main issue with banks and conventional currencies.

Max Keiser, a pro-Bitcoin advocate and crypto podcaster, continues to stick to his $220,000 Bitcoin price prediction. The Bitcoin proponent has mentioned such a forecast several times in the past year and now this year.

Bitcoin rallied tremendously last week coming off the back of the devastating new of the Silicon Valley Bank collapse, among others. This saw the digital asset rise to a nine-month high above $28,000 before correcting back downward.

Bitcoin price has reached a crucial resistance level of around $28k as traders await tomorrow's Federal interest rates. With over $126 million liquidated in the past 24 hours, Bitcoin's volatility is expected to increase before and after the FOMC statement.