From Nasdaq, Inc.:

Major cryptocurrencies were seen trading higher at the time of writing, with the global cryptocurrency market cap up 2.1% at $1.72 trillion. Bitcoin was up 1.98% at $42,960.56, Ethereum was up 1.38% at $2,296.80, and Dogecoin was up 0.88% at $0.08 in the last 24 hours.

Shares of New York Community Bancorp dropped following the release of fourth-quarter results, adding to concerns over the stability of U.S. regional banking. The SPDR S&P Regional Banking ETF fell 3.12% to $48.15 at the end of the day’s trading.

At the time of the last banking crisis, Bitcoin saw considerable gains. Ark Invest Management CEO Cathie Wood attributed the appreciation of crypto assets during the Silicon Valley Bank meltdown to businesses and individuals hedging their fiat assets with crypto.

Crypto trader Michaël van de Poppe noted that Bitcoin has dropped 20% since it hit the $48,500 level, but emphasized that short-term corrections should not be a cause of concern if there is potential for long-term upside.

Santiment, a market intelligence platform, noted that Bitcoin Exchange Traded Funds are still “seeing plenty of volume” despite recent drops, with Wood’s ARKB seeing the most volume and Fidelity’s FBTC not far behind. The rise in volumes has come at the cost of the long-standing Grayscale Bitcoin Trust or GBTC.

Crypto analyst Ali Martinez says the next Bitcoin market top could be around April or October 2025, based on historical trends following previous halvings. The next Bitcoin halving is due in April 2024.

It should be noted that during the last banking crisis, Bitcoin saw a considerable gain. Ark Invest Management CEO Cathie Wood touched on the appreciation of crypto assets during the Silicon Valley Bank meltdown.



Read more: Bitcoin, Ethereum, Dogecoin Hold Strong Amid US Regional Banking Turmoil Fears: Analyst Predicts Potential Market Peak By October 2025 If This Happens