Bitcoin crosses the $27,000 mark, the highest in the past 9 months

The world’s largest cryptocurrency by market capitalization has skyrocketed. As of 7:45 a.m. on March 18, Hanoi time, Bitcoin reached $ 27,480 / BTC, up 10.04% in the past 24 hours. This is the highest level since early June 2022.

Year-to-date, Bitcoin has also gained about 66.92%, hitting its highest level in the past 9 months. But this digital currency has a long way to go to reach the record milestone of nearly $70,000/BTC by November 2021.

Last week, Signature Bank was regulated by the Federal Deposit Insurance Corporation (FDIC). About 30% of deposits at this bank are from crypto customers.

Following the banking industry news, stablecoin USDC lost its peg, dropping to 86 cents on March 11. Coinbase recovered on March 13, after announcing it would “fully withdraw” $240 million in cash at Signature Bank. Bitcoin that morning was also up 17%.