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Cryptocurrency markets continue to bleed, with most cryptocurrencies trading in the red on 9 November due to yesterday’s panic that was rife with rumours FTX Bankruptcy, whereas Bitcoin fell to about $18,000, Ethereum was on the verge of significant losses below $1,300.
global crypto market cap $913.58 billion, up 11% from the previous day. The total volume of DeFi currently stands at $9.99 billion, accounting for over 4.5% of the overall crypto market in 24-hours. The total volume of all stablecoins is now $199 billion, which is 93% of the total 24-hour volume of the crypto market.
Binance Triggers Liquidity Crisis, Then Buys FTX
Sam Bankman-Fried, who founded cryptocurrency exchange FTX into a global powerhouse, tweeted that Binance has agreed to buy the company. Following news of an alleged imminent Binance buyout, Sam Bankman-the native token of cryptocurrency Fried’s exchange FTT initially soared, but investors remained uncertain, and FUD began a dramatic selloff, bringing FTT from $22 to $4. fell by more than 80%.
Binance founder Changpeng Zhao also took to Twitter to discuss the transaction, writing: “This afternoon FTX asked for our support.” We are facing severe cash crunch. To ensure the safety of our users, we have signed a non-binding LOI with the intention of fully acquiring FTX.com and relieving financial stress.
In the next few days, we will showcase a complete DD. Since the steep fall on Saturday night, when Binance CEO Changpeng Zhao said that the exchange would dump hundreds of millions of dollars worth of FTX’s native token FTT due to allegations of bankruptcy by Alameda Research, bitcoin and ether have consistently lost their losses. getting back.
FTX CEO, Sam Bankman-Fried, discusses how things go “full circle” with Binance being the exchange’s first and last investor. The terms of the contract are being kept confidential.
As Binance has the option to terminate the agreement at any time, FTT investors remain in the FUD (Fear, Uncertainty and Doubt), leaving the overall trading bias bearish.
check it out Contact If you want to read more about FTX backstory.
Top Altcoin Gains and Losers
There have been very few coin gains in the last 24 hours, with BinaryX and Pax Gold being two of the top 100. BinaryX price is trading up more than 2% at $145, and Pax Gold is up more than 2% to $1,700.
Bitcoin is currently priced at $18,395 and has a 24-hour trading volume of $115 billion. Bitcoin is down more than 6% during the Asian session and over 10% in the past seven days. CoinMarketCap currently ranks first with a live market cap of $351 billion, down from $378 billion yesterday.
On the technical front, BTC/USD has broken all the previous support levels mentioned in bitcoin price prediction for the European session. Bitcoin is currently finding immediate support at $18,170, with the next support remaining at 17,150.
The bearish trend is likely to indicate a continuation of the selling trend, so we should keep an eye on $18,170. Closing below this level could result in additional selling.
Leading and backward indicators such as RSI, MACD and 50-day moving average are indicating a bearish trend. Bitcoin is likely to face immediate resistance at $19,000 or $19,895.
On Wednesday, the second most valuable cryptocurrency, Ethereum It traded at $1,303 with a drop of nearly 12% in the past 24 hours and over 17% in the past seven days. On CoinMarketCap, it now ranks second with a live market capitalization of $159 billion, down from $178 billion yesterday.
on the daily chart, Ethereum A symmetrical triangle pattern has formed, which is supporting ETH near the $1,227 level. The ETH/USD pair has broken below the 50-day EMA, which previously served as support at 1,385 and is now acting as resistance.
The RSI and MACD are also in a sell zone, and the formation of a bearish bearish candle indicates a possibility of further selling.
On the downside, a break above the $1,227 level could take ETH price towards the $1,125 or $1,000 mark.
FTX Token Is Down 84%
The current price of the FTX token is $4.54, with a 24-hour trading volume of $3 billion. FTT is down by over 71% in the last 24 hours and over 84% in the last seven days. With a live market cap of $607 million, CoinMarketCap is now ranked #30.
On the technical front, FTT/USD has broken above a descending triangle pattern, indicating a possible continuation of the bearish trend. On the downside, FTT may find support near $3 or $1, as a breakout of the descending triangle pattern could have a negative impact on FTT investor sentiment.
An immediate resistance for FTT is forming an upside resistance at $6 or $10.
New crypto presale with huge potential
Dash 2 Trade (D2T)
dash 2 trade is an Ethereum-based trading intelligence platform that provides real-time analytics and social data to traders of all skill levels, allowing them to make more informed decisions.
It launched its token sale three weeks ago and has now raised over $5.7 million, while also getting its first confirmed CEX listing on ElBank Exchange,
1 D2T is currently equal to 0.0513 USDT, but it will soon rise to $0.0533 in the next round of selling and $0.0662 in the last leg.
Find the best prices to buy/sell cryptocurrency
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