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Bitcoin falls below June lows as FTX shocks crypto world

Bitcoin Price Cryptocurrency Exchange Coinbas



Bitcoin fell more than 12% on Tuesday as news that Binance, led by Changpeng Zhao, had signed a letter, sending the stunned cryptocurrency world into a sell-off. Intent to acquire cryptocurrency exchange FTX (LOI).

Bitcoin sell-off pushes BTC As low as below June 2022 low

After Initial gains The cryptocurrency market surged on a positive boost, with bitcoin plummeting to a low of $17,114 on cryptocurrency exchange Coinbase.

Downside marks Bitcoin’s fall to June crypto The lowest price level since the currency carnage, when the fallout from the bankruptcy of Luna and Three Arrows Capital coincided with Bitcoin printing a low of $17,592.

BTC /USD price on Coinbase. Source:


FTX (FTT) with sell-off The coin crash rallied 85% in a matter of hours on Tuesday — from a high of $22 to a low of $4.60 — and other markets followed suit as uncertainty and fear reigned supreme.

As of this writing, Ethereum has fallen below $1,300 and Solana is approaching $23.80.

Coinbase and Kraken report connection issues

Meanwhile, leading cryptocurrency exchanges Kraken and Coinbase reported Connectivity issues only fuel negative emotions.

Kraken announced that some users on its website There are reports of connectivity issues being investigated as well as through the phone.

Coinbase also reported connectivity issues affecting its, Coinbase Pro and Coinbase Prime platforms. An hour later, the U.S.-based cryptocurrency exchange released an update noting improved network latency, but users reportedly still struggled to access the exchange’s various platforms.






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