Bitcoin Suddenly Plunges Below $20,000. Here’s Why

Nov 10,2022
Bitcoin Suddenly Plunges Below $20,000. Here’s Why

priceBTCSuddenly fell below the psychological level of 20000 dollars again

The world's largest cryptocurrency reached the intraday bottom of US $19559 at 4:20 UTC on the Bitcoin Exchange.

According to the data information of the big data platform Coinclass for cryptocurrencies, only in the past hour, cryptocurrencies worth 112.83 million dollars will be settled. Double positions account for 94.94% of the positions being written back

The recent decline is probably due to the conclusion of cryptocurrency contagion caused by uncertainty after the conflict between cryptocurrency giant FTX and Binance recently

FTT suddenly plummeted by 14%Within an hour。 The exchange for tokens has fallen by a surprising 25.64% in the past day.

According to the data information of PeckShield, the blockchain technology analysis platform, the cryptocurrency with a value of US $284 million has been obtained from a whale in the FTX trading center.

It is reported that Zhao Changpeng, the CEO of Binance, announced that the enterprise was determined to sell all its FTT tokens, which surprised the sales market. It was rumored that Alameda Research, closely related to FTX, had financial and tax problems

However, financier Fred indicated that the company's property was "very good", trying to dispel rumors

In addition, Zhao Changpeng, CEO of Binance, responded that heNo attempt to resist FTX.