“We have seen broader market instability despite some positive macro developments for risk assets as a whole,” David Duong, head of institutional research, at crypto exchange Coinbase, wrote, adding: “It’s still emerging which counterparties may have lent or interacted with either FTX or Alameda (FTX’s sibling company) and what those exact liabilities are. BTC could not only retest 2022 lows but touch the $13K level. We think there is support at $13.5K.”
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