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Shares of another bank in the USA are collapsing! Will It Have an Impact on Bitcoin (BTC)?
As of last year, a banking crisis broke out in the United States as a result of the US Federal Reserve's excessive tightening of the markets. In line with this crisis, many local banks such as Silicon Valley and Signature Bank went bankrupt.
In the last period, the banking crisis came to the fore again. As of today, the shares of New York Community Bank, a US-based bank founded in 1859, have experienced a 25% collapse.
In the last 1.5 months, the bank's shares have fallen by a whopping 61 percent to their lowest level since June 2000.
Community Bank of New York bought Signature Bank, which went bankrupt last year. As of now, the bankruptcy frenzy in the banking sector has started to flare up again.
Although New York Community Bank is not expected to go bankrupt, the continuation of these declines in shares could change the situation.
These Latest Banking Crisis Rumors Could Start A New Rally In Bitcoin!
With a minor banking crisis in the past period, the leading cryptocurrency Bitcoin (BTC) experienced sudden increases.
Many institutional and individual investors saw Bitcoin as an escape port during the banking crisis and bought BTC.
In the coming period, the sharp decline in the shares of giant banks in the US may have a positive impact on Bitcoin.