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Alex Dovbnya
The largest cryptocurrency has now dropped to the $16,000 level as the FTX-driven sell-off seems to be accelerating
The price of Bitcoin, the world’s largest cryptocurrency, dropped to a new two-year low of $16,936 earlier today on the Bitstamp exchange.
At press time, the largest cryptocurrency is trading at $17,253 after paring some losses.
According to data provided by CoinGlass, $891.75 million worth of long and short positions has been liquidated over the past 24 hours alone.
The cryptocurrency market has been hit hard by FTX’s sudden unraveling.
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Bitcoin is now down 75.31% from its record high that was achieved roughly a year ago.
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