Bitcoin hits $28,000, as UBS buys Credit Suisse for $3.2B

Quick Take

What happened over the weekend?

• UBS bought Credit Suisse for $3.2 billion
• Swiss National Bank offers $100 billion in liquidity as part of the UBS deal.
• This is a 73% discount on Friday on Credit Suisse’s closing price.
• UBS credit default swaps have doubled since news broke that it would rescue Credit Suisse.
• Gold hit an all-time high of $1,988 during Friday’s session
• Bitcoin broke through $28,000 and broke through 200WMA
• Bitcoin investors are extremely bullish as spot and derivatives volume is the highest over a year.

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