Bankruptcies, shrinking profit margins and traders realizing hefty losses are all signs of capitulation from various market participants.
A few weeks ago, Binance CEO declared that exchanges moving large amounts of crypto to prove their wallet address is not good news.
The first and the last major attempt to encourage a comprehensive crypto framework was buried in the House of Commons on Nov. 23.
Despite the widespread loss of confidence in crypto following the FTX collapse, Bitcoin’s on-chain data gives investors hope.
Bitcoin cannot be destroyed by the fall of cryptocurrency giants like FTX or, hypothetically, other big exchanges, according to Samson Mow.
The Sydney-based Arkon Energy secured $28 million in a recent funding round to expand its renewable energy Bitcoin mining operations despite the volatile market.
El Salvador currently holds 2,381 BTC with a total investment of $103 million, the value of its BTC investment has declined to $39.4 million in the current market conditions.
On-chain data flashed positive for DEXs and an increase in protocol revenue, even as markets corrected due to FTX’s insolvency.
The Bank for International Settlements (BIS) studied the main motives behind Bitcoin adoption by retail investors.
The Bitcoin price briefly fell below $16,000 last week as Sam Bankman-Fried’s FTX Group filed for bankruptcy.