‘Bitcoin smells trouble’ as banks are stressed and ‘yields are puking’ – Strike CEO
Regional banks faced renewed stress despite 2023 crisis reforms, with Zions and Western Alliance stocks plunging as Bitcoin fell to a four-month low.
Several regional banks in the United States are facing renewed stress despite strengthening their finances after the 2023 banking crisis, and Bitcoin could benefit from any liquidity crisis that follows.
Strike CEO Jack Mallers sees the banking stress as validation that Bitcoin (BTC) is correctly pricing in an impending liquidity crisis, opining that the Federal Reserve’s inevitable response will drive BTC prices higher.
“Bitcoin is accurately smelling trouble right now,” he said on the Primal social media platform on Friday.
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