FTXwith the bankruptcy of cryptocurrencies and bitcoin There was great pressure on him.
While investors’ confidence in the sector is shaken, the possible effects of FTX’s bankruptcy prevent risk appetite from rising despite low prices.
DCG’s Possibility of Bankruptcy Fears
The difficulty of Genesis, a branch of DCG, which also includes Grayscale, the largest Bitcoin fund after FTX, caused even greater uneasiness.
It was also alleged that over the weekend, DCG owed $1 billion to Genesis and therefore sought an emergency loan of $1 billion.
Although DCG and Grayscale stated that the situation in Genesis did not affect them, the premium in the GBTC fund was based on minus 50%. This shows that the explanations are not enough to relieve the anxiety of the investors.
Hacker and Jump Trading Dump Ethereum
While the risk appetite is low on the buyers’ side, there are also those who unload in this low liquidity environment.
FTX Hacker continues to convert the ETH he stole from the exchange to renBTC piece by piece. This causes Ethereum to drop more than Bitcoin.
185 thousand in the hands of the hacker Ethereum left. It seems that the last exit occurred recently (12:15) and 15,000 ETH was converted into RenBTC.
These movements Ethereum While increasing the sales pressure on the market, it also affects the market in general.
One of the reasons for the increased anxiety over Ethereum was Jump Traiding’s wallet movements.
It was claimed that Jump Crypto was affected by the FTX collapse and will go bankrupt, but the company said in a statement that its liquid assets were sufficient.
Fearing the contagion effect of FTX, a large number of wallets labeled as Jump Trading Ethereum The fact that there was an entrance and exit caused another uneasiness.
Until the contagious effects of FTX’s bankruptcy are fully manifested Ethereum It is assumed that the pressure will not be lifted.
DXY’s Rise Has Been Salt and Pepper
bitcoinWhile it was affected by this low risk environment in , it fell back to $15897 today.
Among the reasons for the decline in Bitcoin, besides the atmosphere of fear in the market, the rise in DXY was also effective.
While the dollar, which started the week with a rise, was premium by 1%, there were pullbacks in risky assets such as Bitcoin, along with US futures.
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