The current value of BTC is less than $17,000 due to the liquidity crisis of the FTX crypto exchange. FTT price decreased by 90%.
The situation with the FTX crypto exchange was influenced by investor doubts about its solvency and the safety of storing the assets of its participants. Cryptovizor informs that following the results of trading on major crypto exchanges, BTC fell to $16,893.
Difficulties began to occur on 11/06/2022, when information was received that Binance decided to liquidate native FTX tokens from its platform. This was the prospect of realizing the FTT crypto asset in excess of half a billion dollars.
Immediately after this message, the price of BTC and the FTT token began to decline rapidly and an outflow of crypto assets from FTX began to occur. According to CryptoQuant, 20,000 BTC were withdrawn from the exchange in the last 24 hours.
This should have been quite positive news, but not in the opinion of investors, who view it in a completely different way, which subsequently led to an even greater price reduction. As a result, FTT decreased by 90% in 3 days, and the decrease in the price of BTC exceeded 21%.
As for the hopes of no damage, he hurried: Coinglass informs that in just the last 4 hours, a liquidation of long positions was in the amount of $482 million.
Analysts predict that bitcoin will be worth $63,000 in two years. Also, earlier it became known that FTX added cryptocurrency transfer by phone number.
