Bitcoin has tumbled to the lowest levels in two years as Binance’s planned takeover of FTX.com collapses.
The week’s rout in cryptocurrencies deepened, with Bitcoin tumbling to the lowest levels in two years, as Binance walked away from its planned takeover of FTX.com.
“The market is now in full fear mode,” said Ilan Solot, co‑head of digital assets at Marex Solutions. “Everyone’s looking to see if there’s more dominoes and what else needs to be liquidated.” “Since I entered the crypto industry in 2016, very few periods tested its market infrastructure and participants like the last 24 hours did,” said crypto hedge-fund manager Dan Liebau of Modular Asset Management.Noelle Acheson, author of the “Crypto is Macro Now” newsletter, pointed out that Bitcoin, which typically holds up better than other tokens during times of stress, was seeing greater declines than some other altcoins.
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