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The value of Bitcoin (BTC) has risen by about 3% since FTX filed for bankruptcy on November 11. crypto slate data.
Bitcoin traded at a low of $15,742 on November 10th. At this time, FTX was dealing with bank runs that eventually led to its collapse.
During this period, retail traders withdrew coins from centralized exchanges in large numbers, pushing BTC reserves on these platforms to 2018 levels.In addition, major crypto platforms such as Binance and Coinbase. recorded withdrawals from the platform as investors prefer self-management.
Despite this, Bitcoin’s price mostly traded above $17,000, with the flagship digital asset reaching a high of $18,320 on December 14th. However, in the past 7 days, BTC has fallen 2.8% of him and he is currently trading at $16,865 at the time of writing.
Similarly, the price of gold is gain A 3% increase since the implosion of FTX. As of Nov. 11, the precious metal was trading at around $1,760, but on Dec. 19, he climbed to $1,817.
Meanwhile, its value has decreased slightly to $1,796 at the time of writing.
While Bitcoin and gold values rose following the FTX crash, Ethereum (ETH) prices fell along with other assets such as the US dollar, S&P 500 and NASDAQ.
according to crypto slate According to data, Ethereum hit a trading low of $1,095 on Nov. 10 and recovered to $1,301 on Nov. 11.
During this period, ETH briefly traded at a high of $1,343 on December 14, but its value has fallen by more than 3% over the past seven days.
Other assets such as the US dollar, S&P 500 and NASDAQ fell 2.62%, 2.50% and 4.05% respectively after the FTX crash.
Meanwhile, the poor performance of the S&P and Nasdaq indices is fueled by fears of a recession.Reuters reported that the largest U.S. bank predicted It means that the economy is getting worse. As a result, some banks are starting to cut staff, according to the report.
Better-than-expected monthly data on employment and economic performance also fuels concerns that the Fed will continue to raise interest rates, which are already very close to record highs. recent Fed Raised Cut interest rates by half a percentage point, reaching the highest level in 15 years.
