Bitcoin continues to fall below $16,000, hitting its lowest level in two years, while other cryptocurrencies. fall as well It has been affected by the bankruptcy of FTX, the world’s second-largest cryptocurrency trading platform.
Bitcoin continues to fall below $16,000, hitting its lowest level in two years, while other cryptocurrencies. fall as well It has been affected by the bankruptcy of FTX, the world’s second-largest cryptocurrency trading platform.
Bitcoin fell to $15,480 today. This is the lowest level since Nov. 11, 2020.
Bitcoin used to surpass $69,000 in November 2021. which is the highest level in history before sinking below $20,000 in June 2022. amid concerns that The US Federal Reserve (Fed) accelerating interest rate hikes and reducing the size of its balance sheet will drag down liquidity in the market. and make the United States face a recession
The crypto market continues to be under pressure from the FTX meltdown, even though the two-week event has resulted in a loss of over $1.4 trillion in cryptocurrency market cap. since the beginning of this year While Zhao Changpeng is the CEO of Binance, the world’s largest cryptocurrency trading platform. Announcing the FTT token sale of FTX on Nov. 6
FTX issued a statement saying: The company has filed with the US courts under Section 11 for bankruptcy receivership. About 130 of FTX’s affiliates have filed for bankruptcy. These include Alameda Research and FTX.us.
FTX became a bankrupt company in just a few days. from the original assets of more than 30 billion dollars Amid liquidity crises as clients flock to withdraw funds as Binance pulls out of deal
Investors remain concerned about the FTX crisis as they are unsure of how the event will end. And which company will face bankruptcy next?