The Potential Impact of FTX Sell-Off on Bitcoin Price: A Cause for Concern?

The Potential Impact of FTX Sell-Off on Bitcoin Price: A Cause for Concern?


Investors Brace for Cryptocurrency Collapse as FTX Receives Approval to Sell Holdings

Investors are preparing for a probable cryptocurrency collapse as FTX, a bankrupt cryptocurrency exchange, is granted permission to sell its cryptocurrency assets. FTX requested approval from the United States Bankruptcy Court to sell, stake, and hedge its holdings, and the request was approved by Judge John Dorsey. The exchange can now sell up to $100 Million worth of tokens per week.

FTX as of now holds whole lot of amounts of Solana (SOL), Bitcoin, Ethereum (ETH), and Aptos (APT). Regardless of concerns raised by FTX customers about the  capacity consequences of the sell-off, such as a market collapse, these concerns were dismissed.

Probable Counter Move in the Market

Regardless of the court ruling, the cryptocurrency market has not shown any whole lot of indications of a downtrend. High-cap assets are essentially experiencing single-digit climbs on the weekly charts and reversing their recent losses.

READ NOW
Hodlnaut’s Judicial Managers Oppose Takeover by OPNX: Report

Solana’s price movement has been particularly positive, with the coin showing a stable upward trajectory since September 12. This may be interpreted as a reversal of its previous decline. In addition, investors could be anticipating a strong bull run.

The latest information of FTX’s sell-off has not yet caused whole lot of selling pressure in the market. Bitcoin’s price has likewise been on the rise since September 12, reaching over $26,600 at the time of writing.

Factors Mitigating a Cryptocurrency Crash

The FTX sell-off is unlikely to result in a catastrophic collapse for Bitcoin (BTC) due to plenty of factors. FTX is not only planning to liquidate its assets but likewise stake and hedge them to mitigate dangers. Furthermore, there are rumors that Tesla, Inc. may start accepting Bitcoin (BTC) payments soon, which could further support the price.

READ NOW
Technical Analysis: Bitcoin and Ethereum Consolidate Recent Gains in Anticipation of FOMC Decision

Another factor providing resilience to the Bitcoin (BTC) price is the upcoming Bitcoin (BTC) halving in 2024. Regardless of these factors, investors are seeking refuge in new digital currencies like Bitcoin (BTC) BSC to offset probable dangers. Bitcoin (BTC) BSC is built on BNB Smart Chain and offers a stake-to-earn system.

The Rise of 2.0 Coins

The digital currency market is as of now experiencing a surge of interest in “2.0 coins” like BTC20 and BTC2.0. These coins have seen whole lot of price jumps, with BTC2.0 experiencing an ~80-fold increase earlier in the year. Investors are rushing to secure Bitcoin (BTC) Bitcoin coins before the presale ends.

Bitcoin (BTC) BSC, a stake-to-earn cryptocurrency, offers passive income through staking without the need for energy-intensive mining. Early investors have an advantage in terms of staking rewards, as the APY reduces with more participants joining in.

READ NOW
Ceasing Operations After Falling Victim to Phishing Attack: 41.52 ETH Lost

Probable for Explosive Price Action

New digital currencies like Bitcoin (BTC) Bitcoin have the  capacity for explosive price action, unlike high-cap cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) that have limited room for growth. Early investors in Bitcoin (BTC) Bitcoin could see generous returns if it replicates even a fraction of Bitcoin’s performance.

The Bitcoin (BTC) Bitcoin presale is as of now live for early investors interested in the project, offering a fixed price of $0.99 and supporting purchases in Ethereum (ETH), USDT, and BNB.

Hot Take: Seizing Opportunities in New Cryptocurrencies

As FTX receives approval to sell its cryptocurrency holdings, investors are preparing for a probable cryptocurrency collapse. Nonetheless, the market has not shown any whole lot of indications of a downtrend so far. Factors such as FTX’s intends to stake and hedge its assets and rumors of Tesla, Inc. accepting Bitcoin (BTC) payments provide resilience to the market. In addition, investors are seeking refuge in new digital currencies like Bitcoin (BTC) BSC, which offers a stake-to-earn system. These “2.0 coins” have seen explosive price action in the past, and early investors have the  capacity for whole lot of returns. Seizing opportunities in new digital currencies like Bitcoin (BTC) Bitcoin may be a way to navigate the changing market landscape.

READ NOW
Coinbase’s Initiative to Drive Cryptocurrency Regulation Awareness
Author – Contributor at | Website

Cyrus Dailey stands as a luminary gracefully weaving the roles of crypto analyst, tenacious researcher, and editorial artisan into a captivating narrative of insight. Amidst the intricate world of digital currencies, Cyrus’s perspectives resonate like finely tuned melodies, captivating curious minds from a myriad of perspectives. Her ability to decipher complex threads of crypto intricacies melds seamlessly with her editorial finesse, transforming intricacy into a harmonious composition of understanding.

READ NOW
The Rise of FINSCHIA Coin: Understanding its Potential and Impact
Read Disclaimer
This page is simply meant to provide information. It does not constitute a direct offer to purchase or sell, a solicitation of an offer to buy or sell, or a suggestion or endorsement of any goods, services, or businesses. Lolacoin.org does not offer accounting, tax, or legal advice. When using or relying on any of the products, services, or content described in this article, neither the firm nor the author is liable, directly or indirectly, for any harm or loss that may result. Read more at Important Disclaimers and at Risk Disclaimers.




Follow us

Latest Crypto News

Share via
Share via
Send this to a friend