Crypto Market Defies Banking Chaos as Bitcoin Surges Above $20,000

Despite recent banking turmoil with US bank stocks battered, crypto prices have been soaring, with Bitcoin bouncing back above $20,000, likely due to reassurance provided by the FDIC’s move to sell SVB assets and a reversal of net inflows onto exchanges suggesting a potential end to the recent sell-off period, while the SHA-256 hash rate is the highest it has ever been, indicating increased network adoption and security.

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