It’s hard to believe that just a little over two months ago, $BTC.X and the broader crypto market experienced the single largest WTF moment in crypto history: FTX’s collapse. 😲
When CZ Tweeted on November 6, 2022, that Binance would be offloading its entire $FTT.X stake, it triggered a swift collapse of the entire crypto market.
Over a fifteen-day period, Bitcoin dropped from $21,300 to where it bottomed at $15,473 – a -27.36% drop.
Fast forward to today, and Bitcoin has recovered all of the post-FTX losses and hit a new 4-month high.
Will Bitcoin continue to push higher, or will selling pressure return? There are arguments for both sides, but we’ll tackle the long and short-term outlook analysts see for the broader cryptocurrency market in Friday’s Litepaper. 👀