New Trade for March 17th, 2023

While the collapse of Signature Bank and Silicon Valley Bank sent shockwaves through the market, it may be fueling a rebound in particular assets. What’s more, some analysts have suggested the added pressure on the financial sector could slow down the pace of Fed rate hikes, which may continue to strengthen tailwinds for certain risk assets in the coming days.

Short-term-minded traders looking to surf the waves of volatility over the weekend would do well to consider the following recommendation.   

Legacy Research:

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BTC

On Sunday evening, two days after Silicon Valley Bank’s collapse, the government announced that the bank’s depositors would get their money back, and it would provide an additional funding facility for distressed banks.

Bitcoin bulls have claimed the digital currency is a way for investors to shield themselves against government moves, such as quantitative easing and looser monetary policy, which they say erodes the value of fiat currency. Industry insiders say that the anticipation of a slower pace of interest rate hikes from the Federal Reserve is helping bitcoin. Proponents also point to bitcoin’s finite supply as a critical feature of its being a store of value.

“This past week’s events around the failure of SVB and other banks have also shone a spotlight on the power of decentralized currencies that people can fully custody and own,” said Vijay Ayyar, vice president of corporate development at crypto exchange Luno.  “Decentralized finance is beginning to hit home in terms of a concept to many more people now.”

Bitcoin is up more than 50% this year, beating major stock indexes and commodities.