BTC Moves Back Above $29,000, After Customers Withdraw $100 Billion From First Republic Bank
Bitcoin climbed back above $29,000 on Wednesday as the market continued to react to First Republic Bank concerns. Customers reportedly withdrew about $100 billion in deposits from First Republic in March. Ethereum also moved higher on the news, climbing back above $1,900.
Bitcoin (BTC) rallied strongly on Wednesday as markets reacted to news that First Republic Bank deposits have fallen by $100 billion over the past month.
BTC/USD surged to a high of $29,121.97 at the start of today's session after hitting a low of $27,217.17 the previous day.
The move took bitcoin to its highest level in the past seven days, trading above $30,000.
Overall, prices surged as bulls refused to break below long-term support at $27,000 on Tuesday.
The relative strength index (RSI) also bounced off the 44.00 bottom and is now tracking 54.09.
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