The price of BTC rose 14.4% between March 12 and 13, after it was confirmed that financial regulators had helped depositors of failing Silicon Valley Bank (SVB). The intraday price of $24610 should not have been higher for a long time, but $24000 represents a 45% increase so far this year.

On March 12th, U.S. Treasury Secretary Emily Yellen, Federal Reserve Jerome Jerome and current Chairman of the Federal Deposit Insurance Corporation (FDIC) George Glenn Herbert issued a joint declaration to comfort SVB depositors.

Regulators also announced a non-systemic risk for signatory banks (SBNY), an intervention aimed at compensating depositors for losses caused by former executives. The signatory bank is one of the most famous financial companies that provide services in the cryptocurrency field, like the Bank of China, which announced its own settlement last week.

To prevent further troubles, the Fed meeting and the National Treasury developed a contingency plan to fill all savings in the Signature Bank and Silicon Valley banks with funds from the Federal Reserve meeting Emergency loan Organization. According to the joint declaration of the regulatory authorities, "the operator will not bear any damage", although the countermeasures for the allocation of national bond assets are open to question.

On March 10th, the stable currency, the dollar coin (USDC), caused great unrest in the cryptocurrency industry by breaking the 1:1 exchange rate linked to the dollar. Anxiety intensified after Circle, the launch operator, confirmed that Silicon Valley Bank of America had $3.3 billion in reserves.

Such unusual changes have caused price distortions between exchanges, prompting fully automatic conversions in which Binance and Coinbase ban the use of USDC stable currencies. The peg to the dollar fell to the bottom around $0.87 in the early morning of March 11 and returned to normal at $0.98 after FDIC's successful intervention in SVB's dilemma was confirmed.

Let's take a look at the index values of bitcoin derivatives and take a look at the views of technical professional traders in the current market.

Bitcoin futures indicators are in extreme panic

Bitcoin futures trading in the first quarter is very popular among sharks and hedging arbitrage units. The trading price of such fixed-month contracts is generally a slight premium to the spot market, suggesting that merchants require a large number of assets to delay liquidation for longer.

As a result, stock index futures contracts in the physical and mental health market need to be bought and sold at a daily chemical premium of 5% to 10%-something called futures trading premium, which is not unique to the password market.

The chart shows that traders had been neutral to bullish until March 10, as the reverse market index fluctuated between 2.5% and 5%. However, with a relatively stable currency pegged to the USDC, the cryptocurrency exchange was forced to change the exchange system, and the situation changed quickly in the early morning of March 11th.

In conclusion, the Bitcoin three-month futures premium has become a discount, which is what we often call the spot trading premium. This kind of market is extremely unusual, reflecting investors' lack of trust in intermediary services, or extremely negative about call options. Although the stable price of Bitcoin abroad is close to US $0.995, the current 0% premium indicates that there is not enough demand for financial leverage of Bitcoin according to futures instruments.

Data encryption-fixed gateway is the key to restore the vitality of development.

Based on the return of $24000, Bitcoin has long returned to levels not seen since the bank's share price plummeted on March 1st. Previously, Yinmen Bank delayed the submission of 10Muk's annual financial statements. In addition, login password exchanges and stable currency service providers have no choice but to stop US dollar deposits, and the closure of signed banks has seriously affected OKCoin.

Bank selection for login password companies, including exchanges, is likely to become increasingly limited, as traditional banks remain cautious about the sector. According to some industry analysts, foreign regulators deliberately block big banks from trading with cryptocurrency exchanges.

For a variety of reasons, the Fiat car gateway ip access ramp is particularly important for fixed income, sales market logos and cryptocurrency exchanges. The level of conversion between Bitcoin and cash is particularly important to their day-to-day operations, so the longer it takes to find new banking partners, it will be difficult for relatively stable banks to allow redemption and exchange to maintain a high level of liquidity.

Derivatives indicators may have recovered from the initial risk of contagion in the banking sector, but they still suggest that rising bitcoins lack confidence in a long-term recovery.