Bitcoin Surges 30% Amid Market Chaos, Reaches $26.6K!

• Bitcoin’s value has surged by over 30% in the past seven days, reaching a trading price of $26,600.
• Investors are increasingly diversifying their portfolios and turning to cryptocurrencies as a means of reducing risks in uncertain market conditions.
• The total value locked on Bitcoin is at its highest point since May 5th, 2022, indicating that investors have trust in the cryptocurrency.

Bitcoin’s Market Gains

Bitcoin has seen impressive gains in the past seven days, bringing it back to levels last seen in June 2022. The total cryptocurrency market cap has surpassed $1.1 trillion amid concerns over liquidity due to banking crashes. This week has been one for the history books, with all three US-facing crypto banks being liquidated within three days. Despite this, Bitcoin has emerged unscathed and has seen a remarkable 30% increase to reach a current trading price of $26,600.

Investors Diversifying Portfolios

In response to traditional markets struggling with liquidity concerns due to recent bank collapses, investors have been diversifying their portfolios and looking towards cryptocurrencies as a risk reduction measure. This trend has been reflected in data showing an increase in the total value locked on Bitcoin – currently at $142 million – which is the highest it’s been since May 5th, 2022.

Bullish On-Chain Metrics

Glassnode’s “Recovering from a Bitcoin Bear” dashboard shows positive signs for Bitcoin’s recovery with eight key indicators suggesting that it may be transitioning into a period of recovery or new bull market cycle. These include record highs for net inflows into exchanges and growing activity from older coins entering circulation again after long periods of dormancy; both strong signals that suggest investor confidence is increasing and money is flowing back into crypto assets like Bitcoin.

Positive Outlook For Crypto Market

Such impressive growth is instilling renewed confidence in investors and is indicating a positive outlook for the crypto market moving forward. With more people turning towards cryptocurrency investments as an alternative means of reducing risk compared to traditional markets, there could be further gains ahead for digital currencies such as Bitcoin as they become increasingly accepted by mainstream audiences worldwide.


This surge in price reflects Bitcoin’s ability to perform well even amidst chaotic market conditions, proving its resilience and potential upside despite external factors such as banking collapses attempting to disrupt its trajectory. With more people opting for crypto investments instead of relying solely on traditional financial systems and institutions, there could be further gains ahead for digital currencies like Bitcoin going forward into 2021 and beyond

SVB’s Troubles: Crypto Industry at Risk of Major Shakeup

• Silicon Valley Bank is facing huge liquidity issues, causing the global financial system to experience one of its first cracks.
• The potential collapse of the bank poses a significant risk to the crypto industry, especially crypto-friendly venture capital firms.
• VCs have advised their portfolio companies to withdraw funds from Silicon Valley Bank and also to explore other options.

Silicon Valley Bank’s Troubles

Silicon Valley Bank is a top 20 U.S. bank with about $200 billion in assets under management (AUM). Recently, it has announced a $1.75 billion stock offering and a $500 million common stock purchase by private equity firm General Atlantic to shore up its balance sheet. This news has caused its shares to go down significantly and some users report not being able to log in to their accounts.

Impact on Crypto Industry

The potential demise of Silicon Valley Bank would mean serious trouble for the U.S. startup landscape, including crypto companies due to its crypto-friendliness and providing banking services to prominent crypto-focused venture capital firms such as Sequoia and Andreessen Horowitz (a16z).

VCs Sound Alarm Bell

Mechanism Capital, Eden Block, Pantera Capital, and other VCs have advised their portfolio companies to withdraw funds from the troubled bank due its liquidity issues.

Options for Crypto Firms

Crypto companies need explore other options that can suit their needs in order ensure long-term success of their projects or businesses if Silicon Valley Bank collapses completely or experiences further liquidity issues that make it an untenable partner for these firms .


The market reaction towards Silicon Valley Bank’s troubles reflects the seriousness of this situation on many industries including the cryptocurrency sector which relies heavily on its services. This puts pressure on crypto-friendly venture capital firms as well as individual startups who must look for alternative solutions in order protect themselves from any further risks posed by this situation

Chiliz Invests $50M in Incubator for 2.0, CHZ Slumps 8.8%

• Chiliz launched an incubator and accelerator program for early-stage blockchain projects calledChiliz Labs, backed by Jump Crypto.
• Chiliz 2.0 is transitioning to mainnet, while the team is preparing to roll out a pilot system for NFT tickets.
• The native token CHZ has failed to reclaim the $0.15 support line since its fifth anniversary celebration.

Chiliz Launches Incubator and Accelerator Program

Chiliz (CHZ), the leading sports blockchain, launched Chiliz Labs, an incubator for early-stage products with a $50M USD investment from crypto investment fund Jump Crypto. The incubator will provide developers with a stipend if they are building on the new Chiliz 2.0 blockchain which is in ‚Scoville‘ testnet mode and set to launch this year.

NFT Ticket Pilots to Games Coming Soon

The upgraded Chiliz Layer-1 EVM-compatible blockchain minted its first block on February 8th, 2023 and celebrated its fifth anniversary with exclusive NFTs – Chiliz Anniversary Pepper Collection. The team behind the sports blockchain is now focused on bringing the technology into physical world and rolling out a pilot system for non-fungible tickets (NFT) as well as investing in FC Barcelona’s Web3 ventures with a $100 million funding.

CHZ Native Token Fails To Reclaim Support Line

Despite all of these developments, CHZ native token failed to reclaim its key resistance line of $0.15 after two days of trading at that level on February 8–9th, 2023 only to drop back down again afterwards. At press time, according to CoinGecko data CHZ trades at $0.126757 per token and has lost a significant amount of market capitalization since it’s fifth anniversary celebrations began last month.


Crypto analyst WOLF ALPHA suggested that although CHZ was barely mentioned these days it could do well in March due to upcoming L1 WEB3 Sports Blockchain launch planned for later this month as well as its new incubator program which could help foster viable projects built on top of the new version of their blockchain protocol.


The sports fan token powering CHZ is taking some big steps towards becoming one of the major players in DeFi space by launching innovative product such as NFT tickets or partnering up with major teams like FC Barcelona but unfortunately isn’t getting much love from market participants yet so investors need to be patient before seeing any meaningful returns from their holdings in CHZ tokens