{"id":419,"date":"2022-11-09T18:01:08","date_gmt":"2022-11-09T18:01:08","guid":{"rendered":"https:\/\/nft.runfyers.com\/index.php\/2022\/11\/09\/bitcoin-sinks-to-new-yearly-low-at-16-8k-as-ftx-insolvency-fears-turn-into-contagion\/"},"modified":"2022-11-09T18:01:08","modified_gmt":"2022-11-09T18:01:08","slug":"bitcoin-sinks-to-new-yearly-low-at-16-8k-as-ftx-insolvency-fears-turn-into-contagion","status":"publish","type":"post","link":"https:\/\/nft.runfyers.com\/index.php\/2022\/11\/09\/bitcoin-sinks-to-new-yearly-low-at-16-8k-as-ftx-insolvency-fears-turn-into-contagion\/","title":{"rendered":"Bitcoin sinks to new yearly low at $16.8K as FTX insolvency fears turn into contagion"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div data-v-4b69a2fe=\"\">\n<p>Crypto markets crumbled for a second day as the fallout from FTX\u2019s liquidity troubles continued to negatively impact investor sentiment.\u00a0<\/p>\n<p>Bitcoin (<a href=\"https:\/\/cointelegraph.com\/bitcoin-price\" target=\"_blank\" rel=\"noopener\">BTC<\/a>) price fell to a new yearly low at $16,800 as anonymous unconfirmed sources suggested that after a closer review of FTX\u2019s books, Binance could back out of their agreement to acquire the beleaguered exchange. <\/p>\n<figure><figcaption style=\"text-align: center;\"><em>Crypto market performance. Source: Coin360.com<\/em><\/figcaption><\/figure>\n<p>Other factors having a potential impact on the market is a wave of successive <a href=\"https:\/\/cointelegraph.com\/news\/not-just-ftx-token-solana-price-nukes-40-along-with-other-sam-coins\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/not-just-ftx-token-solana-price-nukes-40-along-with-other-sam-coins\/amp\" target=\"_blank\" rel=\"noopener\">liquidations in Solana\u2019s DeFi markets<\/a>. Earlier in the day, Crypto.com exchange <a href=\"https:\/\/twitter.com\/WatcherGuru\/status\/1590366967588085762?s=20&amp;t=ojfqWSrm7W1JnvLEnNhhcw\" target=\"_blank\" rel=\"noopener nofollow\">emailed<\/a> its users to inform them that all Solana blockchain-based USDC deposits were suspended <\/p>\n<p>A notice on the Crypto.com website also said: <\/p>\n<blockquote><p>\u201cPlease be informed that we have suspended deposits and withdrawals of the USDC and USDCT on the Solana Blockchain in the Crypto.com App and Exchange.\u201d<\/p><\/blockquote>\n<p>At the time of writing, Solana (<a href=\"https:\/\/cointelegraph.com\/solana-price-index\" target=\"_blank\" rel=\"noopener\">SOL<\/a>) price is down 34% and trades at $16.10. FTX\u2019s native FTX Token (<a href=\"https:\/\/cointelegraph.com\/ftx-token-ftt-price-index\" target=\"_blank\" rel=\"noopener\">FTT<\/a>) is also 32% down on the day and trades for $3.78<\/p>\n<p>Daily liquidations data from Coinglass shows $832 million in total liquidations over the past 24-hours, and many traders expect the figure to increase. <\/p>\n<figure><img src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-11\/d8736c30-23f3-4768-9fce-4760c808b756.png\"\/><figcaption style=\"text-align: center;\"><em>Total daily crypto market liquidations. Source: Coinglass<\/em><\/figcaption><\/figure>\n<p><strong><em>Related: <\/em><\/strong><a href=\"https:\/\/cointelegraph.com\/news\/galaxy-digital-discloses-77m-exposure-to-ftx-48m-likely-locked-in-withdrawals\" data-amp=\"https:\/\/cointelegraph-com.cdn.ampproject.org\/c\/s\/cointelegraph.com\/news\/galaxy-digital-discloses-77m-exposure-to-ftx-48m-likely-locked-in-withdrawals\/amp\" target=\"_blank\" rel=\"noopener\"><strong><em>Galaxy Digital discloses $77M exposure to FTX, $48M likely locked in withdrawals<\/em><\/strong><\/a><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"\/><\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-sinks-to-new-yearly-low-at-16-8k-as-ftx-insolvency-fears-turn-into-contagion\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Crypto markets crumbled for a second day as the fallout from FTX\u2019s liquidity troubles continued to negatively impact investor sentiment.\u00a0 Bitcoin (BTC) price fell to a new yearly low at $16,800 as anonymous unconfirmed sources suggested that after a closer review of FTX\u2019s books, Binance could back out of their agreement to acquire the beleaguered [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":420,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[15],"tags":[],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvODhmYTBlNjgtZjY1ZC00NTBhLTg0NzgtYzQ5NDUzYzQ2YzBjLmpwZw==.jpg","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/419"}],"collection":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=419"}],"version-history":[{"count":0,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/419\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/420"}],"wp:attachment":[{"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=419"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=419"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nft.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=419"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}