Bitcoin's 66% year-to-date growth vastly outperforms top Wall Street bank stocks. Bitcoin has decoupled from United States stocks for the first time in a year. Six largest U.S. banks have lost nearly $100 billion in market valuation since the year's start.
The Howey test is a legal test used in the United States to determine whether a transaction qualifies as an investment contract. The test was established by the U.S. Supreme Court in SEC v. W.J. Howey Co. (1946) A transaction is deemed a security if it satisfies these requirements, in which case it is subject to federal securities laws and regulations.
In cryptocurrency trading, a ‘buy wall’ is a massive buy order, or multiple buy orders, around a particular price level. Conversely, a'sell wall' is a significant accumulation of sell orders at a given price. To understand how buy and sell walls work, it is important to know what an order book and its market depth are.
Silvergate, Silicon Valley Bank (SVB) and Signature Bank collapsed last week. The collapse of SVB was largely the result of unfavorable market conditions and poor risk management. The shutdown of Signature was more controversial. Many in the crypto industry saw it as a political decision aimed at pushing crypto out of the United States.
Bitcoin (BTC) has risen to its highest level since Jan. 12. Investors remain concerned about the vulnerability of banks in the U.S. and Europe. The banks have already borrowed $150 billion from the Federal Reserve. The QE in 2020 triggered a rally in Bitcoin that took it from $4,000 to $69,000.
The total crypto market capitalization increased by 26% in seven days, reaching $1.16 trillion on March 17. Bitcoin (BTC) was the biggest winner among the top 20 coins, up 31.5%, though some altcoins gained 50% or more during the period. Billionaire Warren Buffett is on the losing side of the bet against Bitcoin.