For the previous 9 months, general macro circumstances have taken a again seat to the idiosyncratic failures (FTX, Terra’s LUNA/UST, BlockFi, CoinDesk sister firm Genesis) and success tales (the Ethereum Merge, numerous layer 2 launches) that drove a lot of the value motion. However macro regained its place behind the wheel over the previous few weeks. The banking disaster and subsequent coverage response have taken middle stage – solely this time it’s affecting digital belongings positively on the expense of different asset lessons. A fast take a look at the bitcoin (BTC) value versus the regional banking exchange-traded fund (KRE) tells you all that you must know in regards to the winners and losers for the reason that first week of March.