Adoption and nerves — Crypto pumps amid banking crisis By Cointelegraph

Wall St falls as labor data spurs rate hike jitters before debt ceiling vote

Adoption and nerves — Crypto pumps amid banking crisis

Published Mar 28, 2023 09:01AM ET Updated Mar 28, 2023 10:40AM ET

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Adoption and nerves — Crypto pumps amid banking crisis

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On March 19, the United States Federal Reserve announced that it had entered a joint program with several major central banks — including the European Central Bank, the Bank of Canada, the Bank of England, the Bank of Japan and the Swiss National Bank — to support U.S. dollar cash flow and alleviate strains in global funding markets.

Moreover, Fed Chair Jerome Powell said swap lines — agreements between two or more central banks to maintain a crucial liquidity backstop and ease strains in global funding markets — will remain active until at least the end of April.

The banking crisis explained

The numbers seem to be in favor of crypto

Bitcoin futures open interest. Source: Coinglass

What lies ahead for crypto?

The Crypto Fear & Greed Index. Source: Alternative.me

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