{"id":18599,"date":"2023-03-11T13:03:40","date_gmt":"2023-03-11T13:03:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/btc-above-20000-eth-beyond-1400-on-saturday-market-updates-bitcoin-news\/"},"modified":"2023-03-11T13:03:40","modified_gmt":"2023-03-11T13:03:40","slug":"btc-above-20000-eth-beyond-1400-on-saturday-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/btc-above-20000-eth-beyond-1400-on-saturday-market-updates-bitcoin-news\/","title":{"rendered":"BTC Above $20,000, ETH Beyond $1,400 on Saturday \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin rose back above $20,000 on Saturday, despite markets still being spooked by the collapse of yet another banking institution. Silicon Valley Bank was shut down by U.S. regulators on Friday, causing many institutions to lose access to capital. This includes USDC issuer Circle, which led to a USDC depegging. Ethereum also rebounded on Saturday.<\/strong><\/p>\n

Bitcoin<\/h2>\n

Bitcoin (BTC<\/a>) rose back above $20,000 on Saturday, despite overall volatility in financial markets being at historic highs.<\/p>\n

This comes as the Federal Deposit Insurance Corporation (FDIC) confirmed it was shutting down Silicon Valley Bank<\/a>.<\/p>\n

Despite this, BTC<\/a>\/USD raced to an intraday high of $20,792.53, less than 24 hours after trading at a low of $19,628.25.<\/p>\n

\"Bitcoin,
BTC<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Overall, today\u2019s marginal rally in price comes as the 14-day relative strength index (RSI) found a floor at the 27.00 level.<\/p>\n

At the time of writing, the index is tracking at 28.46, with bitcoin at $20,279.45, as earlier gains have eased.<\/p>\n

Market volatility will likely remain higher in the coming days, leading to bitcoin moving above and below $20,000 throughout the weekend.<\/p>\n

Ethereum<\/h2>\n

Ethereum (ETH<\/a>) was also significantly higher to start the weekend, as prices rose back above $1,400.<\/p>\n

Following a two-month low at $1,378.53 yesterday, ETH<\/a>\/USD moved to a peak at the $1,481.32 level on Saturday.<\/p>\n

The move comes as ethereum bulls bought yesterday\u2019s dip, as price strength moved deep into oversold territory.<\/p>\n

\"Bitcoin,
ETH<\/a>\/USD \u2013 Daily Chart<\/figcaption><\/figure>\n

Friday saw ethereum\u2019s RSI fall to 28.30, which was its weakest point since last June, however the index has since rallied.<\/p>\n

As of writing, it is now tracking at 32.26, and appears to be heading towards a long-term floor at 34.00.<\/p>\n

Should it reach this point, there is a strong possibility that ethereum will be back above $1,500.<\/p>\n

Register your email here to get weekly price analysis updates sent to your inbox:<\/em><\/p>\n

Will today\u2019s rebound extend into the remainder of the weekend? Leave your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nEliman Dambell <\/h6>\n

\nEliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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