Bitcoin BTC price analysis. The situation around SVB and USDC

At the end of last week, we published an idea for a calendar of events that could affect price movements on the crypto market in one way or another. Check it out, there is still a lot to come:

But besides that, the weekend was very active because of the bankruptcy of Silicon Valley Bank, one of the top 20 banks in the United States, and was closely connected to startups and the crypto world.

The most interesting thing about the situation around Silicon Valley Bank and USDC:

• The top manager of Silicon Valley Bank turned out to be a former employee of Lehman Brothers (the bank whose bankruptcy started the 2008-2009 crisis, let it be a coincidence)
  
• Joe Biden personally promised to bring those responsible for the bankruptcy of Silicon Valley Bank and Signature Bank to justice.
  
• The Fed and the US Treasury Department launched an emergency deposit support program for Signature Bank and Silicon Valley Bank, using the Fed's emergency lending authorization.
  According to the government's program, all deposits will be fully available.
  
• Liquidity Group, an asset manager and technical lender, plans to provide emergency loans of about $3 billion to companies affected by the collapse of Silicon Valley Bank.
  
• Circle has launched automatic USDC printing and redemption for customers through Cross River Bank, USDC reserve exposure of $3.3 billion has been removed, and the dollar peg is being restored. Circle issued 408 million USDC today, the largest "mint" in the last 7 days.
  
• Circle's CEO said that the company will transfer the remaining money to BNY Mellon.
  

The peg of USDC, DAI, and other stablecoins to the dollar has almost recovered, but everyone is waiting to see if they will include a full conversion of USDC to dollars - if not, the panic will continue and will definitely affect the entire industry.

It is also "lucky" that such a mishap with a major bank occurred at a time when the Fed is "firmly in control" of the financial world and steering it in the "right" direction, in their opinion.

To summarize, it is now clear that nothing is clear)

If we analyze the BTCUSDT price, we see that it has only slightly entered the liquidity buying zone. The current corrective bounce upward seems to be strong, but on the other hand, it fits the concept of a "correctional wave B"
As long as the BTC price is below the critical level of $23,000, the main vector of our thoughts is aimed at the fact that the fall will continue in wave C.
What will wave C be like ?: either a short one around $20500 or an extended one around $19250, or even closer to $18000, time will tell.

Personally, we are not in a hurry to get longs "right away" with our entire deposit. As we wrote in our previous ideas, we have set a wide range of $18000-19800 for ourselves, where we place buy orders "with a grid". Our goal is to slowly build a balanced medium- and long-term investment portfolio with a tasty average purchase price for crypto assets.
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