As confidence in the banking sector may soon be restored following the recent #SVB bank failure, customers might begin transferring their funds back into banks. This potential shift could cause a significant outflow of capital from high-risk assets, such as #cryptocurrencies.
Consequently, the #crypto market may experience a considerable price correction or even a black swan event, as the recent rally was primarily driven by the bank's collapse. Furthermore, #Bitcoin (BTC) is currently approaching a key resistance area at $30,000.
We will closely monitor the market for possible reversal scenarios. #BTC s movement around this critical level could play a significant role in determining the short-term direction of the crypto market.
