Bitcoin and Crypto Firms Rebound Amid Regional Banks Concerns (Cryptocurrency: BTC-USD)

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Bitcoin (BTC-USD) has skyrocketed 3.5% on Friday to nearly $45,000, the highest since Jan. 11, amid renewed concerns about the health of regional banks.

New York Community Bancorp is down 24% over the past five days as the company looks to shift associated risk to build a large portfolio of residential mortgages and increase the liquidity of the Flagstar Bank unit.

The regional bank is considering options such as a synthetic risk transfer backed by a $5 billion portfolio of home loans taken at lower interest rates, Bloomberg reported Wednesday, citing people familiar with the matter.

Ether (ETH-USD) rose 0.6%, Cardano (ADA-USD) rose 7%, Solana (SOL-USD) rose 5% and Ripple's XRP (XRP-USD) rose 1%.

Crypto-related stocks rose in afternoon trading, with MicroStrategy (MSTR) up 12%, Coinbase Global (COIN) up 7%, Riot Platforms (RIOT) up 11%, Marathon Digital (MARA) up 15% and Hut 8 (HUT). increased by 7%.

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