Bitcoin, Ether Drop Over 5% in Massive Sell-Off as Market Continues to Digest Silvergate

[{"selector":"#anim-4a6412b4-dc9f-456a-ad5b-943432b3cd98 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(2.4373094320096556%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Bitcoin (BTC) and ether (ETH) both dropped more than 5% as customers fled crypto bank Silvergate, whose stock tumbled 58% during U.S. trading Thursday. Visit us

Institutions are a bit jumpy as Silvergate seems to be having issues," Nick Ruck of ContentFi, a Web3 venture studio, said in a note to CoinDesk.

Bitcoin’s price fell to an intraday low of $22,020 as Asia trading hours began, after remaining roughly steady at $23,500 for most of the past day.

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