Fear of FTX-Spurred Crypto Crash Is Overblown, Analysts Say
Crypto markets slumped Monday, possibly in part due to fears of FTX unloading its $3.4 billion crypto assets.
Crypto markets slumped Monday, possibly in part due to fears of FTX unloading its $3.4 billion crypto assets.
Some signs suggest potential market weakness despite Tuesday’s rally, market observers noted.
Both tokens rose 3%, bitcoin and ether added as much as 1.2%, while bnb (BNB) rallied 1% after staving off concerns about contagion risks in the BNB Chain ecosystem.
Bitcoin (BTC) and ether (ETH) traded flat on Monday after a relatively uneventful weekend for crypto majors in the absence of a strong catalyst that could help add buying pressure to a dim market. Bitcoin traded just over $29,300 while ether flirted around the $1,850 mark. Both assets have returned slightly over 1% for investors … Read more