It’s fair to say that the first ten days of November have been nothing short of historic in cryptocurrency markets. The turmoil surrounding FTX, and its all-but-confirmed collapse, seems to have eclipsed both Luna and Celsius, who also capitulated earlier this year. The impact of this has been felt by bitcoin, which recently fell below $16,000 for the first time in two years.
Current Market Status
Cryptocurrency prices have been in free fall to start the month, as the FTX collapse has triggered a significant level of bearish sentiment.
Traders have moved to liquidate their positions in the marketplace, seeking alternative investments, with gold being one of these safe havens.
While gold has surged to a one-month high, crypto market volume has slipped $173.16 billion in the last 24 hours.
However, better-than-expected inflation data in the United States has given hope to BTC bulls, with the consumer price index (CPI) numbers for October coming in at 7.7%, better than the 8% anticipat
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