Analysts believe that the cryptocurrency market has overreacted to the Silicon Valley Bank incident. Analyst John Cronin said, "Silicon Valley Bank is a unique example because it relies heavily on commercial deposit financing. The massive outflow of corporate deposits experienced by Silicon Valley Bank forced it to liquidate investments Securities to cover funding gaps is not a trend we are seeing among UK banks. I think the cryptocurrency market such as BTC, ETH, DOGE, SHIB and others are overreacting.” 👻

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