Joe DiPasquale (CEO of BitBull Capital), wrote that “Silvergate” is one of the many factors in bitcoin’s bottomside test in an email to CoinDesk. “In addition to Silvergate there is market concern about greater interest rate increases by the [Federal Open Market Committee] as well as softening stock markets prices. Cryptography is also being scrutinized more closely by the [Securities and Exchange Commission]. The market continues to tighten and test support levels.