Some days back, the crypto market was celebrating a significant rally in the price of major cryptocurrencies. Bitcoin hit a remarkable recovery surpassing the $20K level to $21,500. However, the story quickly changed as the FTT crash dragged the other tokens down. Due to the ongoing FTX crisis in the crypto space, many assets have recorded new all-time lows. Latest reports show that BTC has hit a two-year low, plummeting to $15,500 and leaving the market with a $200 billion loss. It all began with a clash of interest between Binance and FTX, which drove the former’s decision to liquidate its FTT holdings irregularities. Not long after the feud, FTX liquidated its ETH holdings amid rumors of insolvency issues. Related Reading: Bitcoin Eyes $18K Following Good US Inflation Report Bitcoin Plummets To A Two-Year Low The cascade effect landed on Bitcoin. Within hours after the celebration, the multi-week high above $21,500, Bitcoin crash-landed to $17,000. As the crisis continued, Bitcoin recorded another decline on Bitstamp yesterday. Finally, bitcoin slumped to $15,500, an all-time low since November 2020. Although BTC has recovered ov ..
Support the originator by clicking the read the rest link below.
