FTX filed for bankruptcy on Friday in one of the most high-profile cryptocurrency flops, after traders withdrew $6 billion from the platform in three days.
“We have made the difficult decision to temporarily suspend repayments and new loan originations in the lending business. We are working diligently to shore up the liquidity needed to meet our loan clients’ obligations“a Genesis spokesperson said in a statement.
What is expected for Bitcoin
Analyst Titan of Crypto flagged several high-liquidity zones on the exchange’s order books. The largest of them, according to comments, is at $13,500. “Although there is liquidity to take around $18,500, $17,200 and $15,500, the largest is lower at $13,500,” stated.
Analysis resource Material Indicators, for its part, calculated the total liquidity of the offering between the spot price and $13,000 as $195 million on the Binance order book.
Simon Peters, analyst and crypto insider at multi-asset trading platform eToro, gave his comments on the current situation of the crypto asset market. As commented by the analyst, Bitcoin and Ethereum, in this last week suffered a quite significant drop in their pricedue to the great tension that exists in the cryptoactive market.
To start the week, BTC started around $21,000, but as the market digested the main news, the price of the cryptoactive suffered a drop in its price on the eToro platform, reaching its lowest level since November 2020, reaching a price below u$s15,600.
However, during this weekend its value was stabilized, standing above US$16,000 and, currently giving a boost to its value, trading at around US$16,400.
As for Ethereum, this digital asset suffered a similar “challenge” in its price, initially starting the week around $1,600 before falling below $1,000. Subsequently, it achieved stability in its price around US$1,200 over the weekend.
Source: Ambito
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