The cryptocurrency market, including Bitcoin (BTC), has literally turned into a bloodbath. The trigger for the events was the war between Binance and FTX. However, now the authorities have stepped in. As the events escalated, news came that the US Commodity Futures Trading Commission (CFTC) launched an investigation into the Binance-FTX incident. After that, heavy selling pressure started in the market.
CFTC stepped in, Bitcoin and altcoins are blood bathing!
cryptocoin.comAs you follow, Binance CEO Changpeng Zhao (CZ) announced that he will sell the $ 2.1 billion FTT held by Binance. He implied that there were rumors about Alameda Research behind it. These statements by CZ triggered a huge shock wave in the crypto market.
However, CZ said he had no problem with FTX yesterday and extended an olive branch. However, these will not have worked, as today things are even more tense. In the end, the tension between Binance and FTX plunged the market into an inextricable vortex. Today, the market almost exclusively followed this event.
During the day, news came that an agreement was reached between FTX and Binance. In fact, Binance CEO Changpeng Zhao shared that they have signed a non-binding agreement to fully acquire FTX. On the other hand, it was also on the agenda that FTX knocked on the door of Silicon Valley and Wall Street billionaires for a $1 billion bailout a few hours before the Binance deal.
However, the final straw was the US Commodity Futures Trading Commission (CFTC) reporting that it is watching what happens between Binance and FTX. With this news, the market turned red and selling pressure increased. However, the news did not end there. Then news came to the markets that the CFTC has launched an investigation into Binance-FTX’s latest move. This news created a complete bombshell effect.
When will BTC hit $15,000?
Former BitMEX CEO Arthur Hayes has announced that he has purchased some Bitcoin put options with a strike price of $15,000 expiring in March 2023. Hayes’ share comes after the price of the leading crypto fell to $19,244 on the Bitstamp exchange earlier today due to the FTX infection.
Bitcoin later managed to reclaim $20,000 after Binance announced that it had reached an agreement to buy FTX. With the news that the CFTC has launched an investigation, Bitcoin fell hard along with altcoins. At press time, the leading crypto fell 14.7% to below $17,800.
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