Several changes have affected several cryptocurrencies due to some development in the crypto world. Tokens like Dogecoin (DOGE) and Solana (https://remitano.com/invest/au/investments/create/sol) witnessed spikes in their prices these past days, despite the crackdown caused by FTX's disgraced founder's recent arrest.
But while these tokens are experiencing a price hike, others are seeing a dip. Bitcoin stands as one of them. On December 16, Bitcoin (BTC) dropped under $17,000 as traders advised against an outburst to "FUD" concerning the exchange Binance and other parties.
BTC/USD hit multi-day lows of $16,928 on Bitstamp, according to data from Cointelegraph Markets Pro and TradingView.
Thanks to the most recent macroeconomic data and policy update from the United States, the pair reversed its entire run and reached one-month highs.
Market mood revealed what traders claimed to be a blatant case of cold feet amid persistent worries over the viability of Binance, the largest global exchange.
They claimed that the bears' case did not have enough support from the evidence.
The day's
from Michal van de Poppe, founder, and CEO of trading company Eight, was about the craziest rumors and FUD flying around about practically everyone in the crypto exchange market.
Crypto Ed, a fellow trader, and analyst, also appeared skeptical, pointing out that Bitcoin had a similar comedown to U.S. stocks the day before. He
displeasure saying that it's interesting to see everyone turn suddenly so antagonistic toward Bitcoin as if it were only behaving so feebly. He questioned if the "Binance FUD" had any bearing on the situation and stated that SPX was performing precisely the same, if not weaker.
A well-known forex trader, Tony
that "the second wave down for the bears" had begun, despite persistent forecasts of a cycle low at $12,000 or below.
How do you see the fate of Bitcoin amidst this turmoil? Kindly share your thoughts with us in the comments section.
