In the immediate aftermath of the announced deal, they sent bitcoin’s price tumbling well below $20,000, its support of the last two weeks. Hours later, prices were bounding above the threshold. But by the afternoon, the largest cryptocurrency by market capitalization had plummeted under $19,000 for the first time since mid September. BTC was recently trading at about $18,500, down more than 10% over the previous 24 hours and its first time under $19,000 since mid October.
Source: https://www.coindesk.com/markets/2022/11/08/market-wrap-binanceftx-deal-sends-bitcoin-other-cryptos-spiraling/?utm_medium=referral&utm_source=rss&utm_campaign=headlines