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Bitcoin price slides 5% in 60 minutes amid Silvergate uncertainty

Published 03/02/2023, 09:20 PM
Updated 03/03/2023, 10:00 PM
© Reuters.

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

The price drop wiped $22 billion from Bitcoin’s total market capitalization, which is now at $430.9 billion, according to Cointelegraph Markets Pro.

Bitcoin price chart. Source: Cointelegraph Markets Pro.
Ether price chart. Source: Cointelegraph Markets Pro.

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