The largest cryptocurrency according to Binance data Bitcoin 
$105,106.73 decreased by 5.3 percent in the last 24 hours to $105,231, Ethereum 
$3,731.70 It decreased by 6.9 percent to $3,731. The main reason for the collapse was the statements of two US regional banks about bad loans. While the development caused the emergence of a new wave of risks in the banking sector, both cryptocurrency and triggered panic in the stock markets.
Bad Loan Concerns in US Banks Hit Wall Street
US stock markets It closed Thursday with heavy losses. Dow Jones finished the day down 0.65 percent, S&P 500 down 0.63 percent, and Nasdaq Composite down 0.47 percent. CNNAccording to the news of , the bad loan news announced by regional banks has increased concerns about chain risks that may spread in the credit market.
Zions Bancorp‘s announcement of a $50 million credit loss in the third quarter and Western Alliance BancorpFiling a lawsuit against a debtor on charges of fraud increased the fear in the sector. After these two developments, Zions shares fell 13 percent and Western Alliance shares fell 10.8 percent.
credit marketThe tension in automotive loan companies that went bankrupt last month First Brands And Tricolor Holdings came after the cases. Jefferies had its worst day since April, losing 10.6 percent due to its credit relationship with one of these companies. Experts warn that this situation may be the first link in the chain.
Escape to Safe Havens: Gold Renews Record, Yields Fall
Panic in the market directed investors to safe havens. Gold futures rose 3.1 percent to exceed $4,300 per ounce, reaching an all-time high. Silver broke the record with an increase of 3.8 percent.
With the increase in purchases in the bond market US 10-year bond yield below 4 percent, 2 year bond interest It dropped to 3.42 percent, the lowest level since 2022. Wall Street’s fear index VIX It increased by 22.6 percent, reaching the highest level since May. CoinMarketCap Crypto Fear and Greed Index It fell into the “Fear” zone for the first time since April.
JPMorgan CEO Jamie DimonIn his statement on Tuesday, he warned: “Asset prices are too high, credit spreads are too narrow. It is dangerous to fall from this high.” Dimon also increased the dose of his warning by stating that they had a $170 million risk from the Tricolor bankruptcy and adding, “If a recession occurs, credit problems will become much more obvious.”
