The BTC/USD price plunged below 20,000 as the cryptocurrency industry came under renewed pressure.
Set a buy-stop at 19,500 and a take-profit at 21,000.The BTC/USD price plunged below 20,000 as the cryptocurrency industry came under renewed pressure
In a report, CoinDesk said that Alameda Research’s balance sheet was mostly made up of FTT. FTT is the native token for FTX and is a highly illiquid cryptocurrency. As a result, Binance decided to sell its remaining FTT holdings. The collapse of FTX is one of the biggest stories in the industry. In 2021, FTX raised funds at a valuation of over $30 billion. And most recently, the company was seen as the JP Morgan of the cryptocurrency industry. For example, it signed a deal to rescue Voyager Digital, an exchange that collapsed in May.
It also declined as investors became extremely fearful about the crypto industry. Bitcoin’s fear and greed index plunged to the extreme fear level of 20.data will have no major impact on Bitcoin. Instead, traders will be focusing on how FTX unwinds.The BTC/USD price has been in a slow recovery lately. This rebound saw it rise to a high of 21,409 last week. All these gains became undone as the FTX crisis widened.
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