Bitcoin isn't waiting for the bailout announcement as it takes off in 7% rally

Bitcoin rises above $21,000

Highlights

Bitcoin prices bounce back to $21,500 after falling as low as $18,540 on the weekend.
Market is sniffing out an imminent backstop for US bank deposits.
The latest is a Washington Post article saying the US is weighing protecting all deposits at Silicon Valley Bank.
Circle says it’s on the hook for $3.3 billion deposits at the bank and (thankfully) moved out $5.4 billion before it was shuttered.
The company put out a reassuring statement that’s helped bring the stablecoin back to 96-cents.
Still, it will need to get back to par on Monday or more trouble could emerge.

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