The Bitcoin price is currently consolidating below the key resistance zone at $28,300. Both from a historical perspective and based on current macro events, there are good reasons to remain bullish and expect the price to continue to rise.<\/p>\n
The health of the US banking system remains fragile. As economic journalist Holger Zschaepitz noted<\/a> today, America’s banks are short hundreds of billions of dollars. Last year, deposits at commercial banks fell by half a trillion, a decline of about 3%.<\/p>\n “This makes the financial system more fragile. How the Fed drained the financial system of deposits,” Zschaepitz explained. Charles Edwards, co-founder of Capriole Investments, declared <\/a>that for a year, the US Federal Reserve (Fed) called inflation temporary and kept interest rates at zero while it ran rampant.<\/p>\n “Now, in the face of existential bank runs and the potential collapse of 100s of banks; the Fed is again blindly following their insane rate rise policy. It’s the same mistake in the opposite direction. They have no idea what they are doing,” said Edwards, who posed a rhetorical <\/span> question about which bank will be next and shared a screenshot of a news story about Deutsche Bank, which has seen its credit default swap (CDS) jump 9%.<\/p>\n Which bank is next on the chopping block? pic.twitter.com\/ge3kTexJKL<\/a><\/p>\n — Charles Edwards (@caprioleio) March 24, 2023<\/a><\/p><\/blockquote>\n\n