The co-founder of Real Vision, Raoul Pal, poured cold water on the likelihood of Bitcoin hitting $1 million in the next 90 days.

As Credit Suisse (SWX: CSGN) becomes another banking giant to feel the effects of the widespread crisis that has already crashed several financial institutions and put many others at risk, it is worth reminding of the words of its former CEO, who claimed Bitcoin (BTC) was a bubble.

Bitcoin's price may be surging, but that doesn't mean everyone's convinced the rally will continue. 

The recent upturn in the cryptocurrency market, led by the flagship decentralized finance (DeFi) asset Bitcoin (BTC), has given wings to Bitcoin mining companies’ stocks, as their price in terms of weekly performance is recording substantial gains.

Bitcoin price looks for another rally as the banking crisis deepens. The closure of Silvergate, Silicon Valley Bank, and Signature bank by regulators have caused instability in the global market. As a result, Bitcoin and Gold prices are rallying massively.

El Salvador President Nayib Bukele received an approval rating of 91% from the local population, according to a survey conducted by La Prensa Grafica (LPG) — one of the leading daily newspapers in El Salvador.

$2 Trillion in liquidity projected to be entering markets — How will Crypto react?

The fed and five central banks have just announced to enhance liquidity via USD swap lines. The other five central banks are the Bank of England, the Bank of Canada, the European Central bank, the Swiss National Bank, and the Bank of Japan. Swap line operations with the fed will now be daily instead of weekly. Distressed banks can now get liquidity (dollars) from the fed daily. The result is balance sheet expansion — billions if not trillions of liquidity incoming in the short-medium term.

On Monday (March 20), two days after Goldman Sachs research highlighted Bitcoin as the performing asset class so far in 2023, the Bitcoin price surged above the $28,500 level for the first time in 9 months.

The dollar value locked in the number of open bitcoin (BTC) futures contracts is rising, signifying increased speculative interest in the market and potential for price volatility.