Bitcoin and Solana felt the negative effect of the crisis with the crypto exchange

On November 10, bitcoin continued to update local lows.
Early on Nov. 10, bitcoin’s price was at $15,800, having gone to a new low after dropping to $16,800 on Nov. 9, which is how the crisis with cryptocurrency exchange Says Including on the value of the No. 1 cryptocurrency.
The fact is that the FTT token price drop caused, on the one hand, sales of other digital assets, which were traded on the crypto exchange On the other hand, as a strong negative event for the cryptosphere, it began to be recouped by large holders of cryptocurrencies when the market may start looking for a new “bottom.
The current decline in bitcoin price, which has increased the departure from the historical high of $69,045,000, which was fixed on November 10, 2021, to -76.8%, so far falls within the framework of the classic volatility of the cryptocurrency №1 during the “bear” market.
In the top 15 cryptocurrencies by capitalization, the biggest drawdown is at No. 15, Solana (SOL). On an incremental basis, it is down 58% in the last seven days, losing 46% in the last 24 hours. Solana Labs expressed hope that the crisis with will find a financial resolution. Meanwhile, Bloomberg cited preliminary estimates of the necessary investment in to bring the crypto-exchange’s balance sheet together is at least $6 billion.
Although the decline in Ethereum price in 24 hours does not look impressive (-17%) against the SOL fall, but the largest by capitalization altcoin balances at $1,100, and the loss of this value will open the way to values below $1,000.

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