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Silvergate Capital Release Q3 Earnings Report

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Today’s Cryptocurrency Headline

Crypto bank Silvergate Capital released its third-quarter earnings statement Tuesday. The bank reported EPS of $1.28 in its third-quarter earnings presentation, compared with analysts’ consensus estimate of $1.41 via S&P Capital IQ. Silvergate’s shares subsequently fell about 20%. Transfers via Silvergate’s real-time settlement network totaled $112.6 billion in the third quarter, which represents a 41% decrease compared with the previous three-month period and a 30% decline from the third quarter of 2021.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is down 1.81% over the last 24 hours and fell to an intraday low of $19,091.97. The largest cryptocurrency broke below the 20-day exponential moving average ($19,410), suggesting the seller remains active at the higher levels. The RSI is near the midpoint, suggesting a balance between supply and demand. For now, the bulls need to push the price above the 20-day exponential moving average in order to prevent further decline.

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