🚨Banks own now less reserves than during the regional banking crisis in 2023 that lead to Credit Suisse collapse. One more signal that Banking stress is close https://t.co/6CSziHzROn ...

Core Insights - Bitcoin has experienced a significant decline, dropping below $104,000, which has caused panic in the crypto markets. This decline follows a peak of $126,198 on October 7, representing a more than 17% decrease in ten days due to renewed US-China trade tensions and banking stress [1][2]. Group 1: Market Reactions - Arthur Hayes, co-founder of BitMEX, views the current dip as a buying opportunity, suggesting that if regional banking issues escalate, a bailout similar to 2023 could occur, leading to a stronger rebound in digital assets [2][3]. - In contrast, Andrew Tate predicts a potential drop to $26,000, indicating that the market is not yet at a true bottom due to traders' "blind optimism" [5]. Group 2: Financial Indicators - Recent on-chain data indicates sustained selling pressure, with over 51,000 BTC moving from miners to exchanges, likely for liquidation purposes. Additionally, exchange-traded funds have seen $536 million in daily outflows, marking a trend of four red days in five [4]. - Economist Peter Schiff has joined the bearish sentiment, noting that Bitcoin has lost 34% of its value against gold since its peak, suggesting that the narrative of Bitcoin as "digital gold" has failed [4].