Carnage on the Crypto Markets as Binance hangs FTX.com out to dry
Binance have just tweeted that they are minded not to pursue the purchase of FTX.com. As of the last few mins ago the Steem price was down 22% and the Bitcoin price has dropped nearly 14% to just over $16000. Things are getting wild out there....!!
Dear @solarisastro
I woke up in the middle of the night and experienced quite a shock to see price of Bitcoin close to $15k level. I must admit, that going back to sleep was not easy at all.
My guess is that current price drop has been caused by mid-term elections in US. That's from macro point of view. Additionally it seem that Binance buying FTX exchange caused wave of panic sale.
It's hard to find any more crutial reasons than those two. Wouldn't you agree?
It's also worth to remember, that today (on 10th) new inflation reading in US will be announced. This may also have quite a strong impact on bitcoin short-term price movement. Especially since level of inflaiton will greatly determine upcoming steps taken by FED.
So much is happening. How are you doing during those challenging times? Hopefully you don't have your assets on FTX?
I also wonder if at the end of the day Binance will buy FTX or will they change their mind ....
Cheers, Piotr