​ETH Drops From 7-Month High, as Market Volatility Heightens | Crypto Shake

​ETH Drops From 7-Month High, as Market Volatility Heightens

Ethereum fell from a 7-month high March 24, as traders reacted to further uncertainty within the European banking sector. Shares in Deutsche Bank fell by as much as 13% in today’s session, following a spike in the cost of credit default swaps. Bitcoin briefly moved above $28,000 on the news.

Bitcoin (BTC) was back above $28,000 on Friday, as fears of further banking collapses pushed traders towards cryptocurrencies.

Following a low of $27,359.25 on Thursday, BTC/USD raced to an intraday peak of $28,729.84 earlier in today’s session.

The move came as the cost of insuring against a bank default spiked, leading to a resurgence of market uncertainty.