Bitcoin Eyes $100K as Banking Crisis Fuels Digital Gold Narrative

Bitcoin might be on its way to hitting the significant $100,000 mark as the “digital gold” narrative strengthens amid an impending banking crisis in the United States. According to the Federal Deposit Insurance Corporation’s (FDIC) quarterly report published on May 29, at least 63 U.S. banks faced insolvency in the first quarter of 2024, an increase from 52 banks in the third quarter of 2023. These banks collectively hold $517 billion in unrealized losses, a $39 billion rise from the previous quarter, marking the ninth consecutive quarter of unusually high losses. The FDIC report noted: “Higher unrealized losses on residential