This week the extradition to the United States of the former CEO of FTX, Sam Bankman Fried, was approved. Besides, gary Wangco-founder of the ill-fated ‘exchange’, and Caroline ellisonformer CEO of the investment arm Alameda Research, have pleaded guilty to all charges filed by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). For another, FTX’s new top management says it has managed to locate $1 billion in assets.
In the rest of the market of ‘altcoins‘, losses are taking place in currencies such as Binance (-2.7%) and Polygon (-2.4%). Dogecoin is the only one of the top 10 to advance with 2.1%.
What will happen to the price of Bitcoin?
“Bitcoin is not getting much of a boost from the positive risk environment on Wall Street”, points out Edward Moya, a senior analyst at Oanda, in dialogue with Bolsamanía. This expert points out that, despite the fact that the markets seem to have given signs in the last day that the traditional Christmas rally could take placethe queen cryptocurrency is followed “reeling” due to the latest developments regarding the FTX bankruptcy case.
“Bitcoin prices are very sensitive, and many traders are concerned about the current pattern of consolidation taking place for BTCsays Naeem Aslam, AvaTrade’s chief market analyst. According to this expert, this is because “the bitcoin price was unable to break above the $18,000 resistance recentlya level immediately below the $20,000 resistance.”
“Now the fact that the price continues to consolidate near the $16,500 price mark makes traders believe that there is more chance of a move that could push the price even further below $15,000“, alert.
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Source: Ambito
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