Bitcoin sinks to new yearly low at $16.8K as FTX insolvency fears turn into contagion

Bitcoin sinks to new yearly low at $16.8K as FTX insolvency fears turn into contagion

Crypto markets crumbled for a second day as the fallout from FTX’s liquidity troubles continued to negatively impact investor sentiment.

Bitcoin (BTC) price fell to a new yearly low at $16,800 as anonymous unconfirmed sources suggested that after a closer review of FTX’s books, Binance could back out of its agreement to acquire the beleaguered exchange.

Crypto market performance. Source: Coin360

Another factor having a potential impact on the market is a wave of successive liquidations in…


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