For the previous 9 months, general macro situations have taken a again seat to the idiosyncratic failures (FTX, Terra’s LUNA/UST, BlockFi, CoinDesk sister firm Genesis) and success tales (the Ethereum Merge, varied layer 2 launches) that drove many of the worth motion. However macro regained its place behind the wheel over the previous few weeks. The banking disaster and subsequent coverage response have taken heart stage – solely this time it’s affecting digital property positively on the expense of different asset courses. A fast take a look at the bitcoin (BTC) worth versus the regional banking exchange-traded fund (KRE) tells you all it’s essential know in regards to the winners and losers because the first week of March.
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