There is another turmoil in the cryptocurrency circle, Bitcoin plummeted by 20% to close to 17,000 yuan.
In the past few days, an exchange FTX which people called it the cryptocurrency central bank, suffered a $6 billion run, resulting in a liquidity shortage crisis. Then FTX asked BINANCE founder Zhao Changpeng for help. After the news that FTX asked BINANCE for help came out, FTX's valuation plummeted to $1, 94% of its value evaporated in one day, as investors worried that BINANCE's acquisition would cause them to lose everything. The incident caused the market to lose confidence in the stability of cryptocurrencies, and Bitcoin fell by nearly 20% in a short period of time under pressure, setting a new low since November 2020.
On the contrary, due to factors such as non-agricultural employment data and mid-term elections, gold recently rebounded from a low of $1,621 to $1,716. Now, coupled with the rising risk aversion of cryptocurrencies, the market outlook is expected to rise again.
