The currency circle fell into a dark 'Lehman moment', and the liquidity crisis of the top cryptocurrency exchange FTX triggered a series of negative market chain reactions.On November 10th local time, a team of strategists at JPMorgan Chase reported to external media that the cryptocurrency market will face a deleveraging process that will last for several weeks due to the impact of the FTX liquidity crisis
The currency circle fell into a dark 'Lehman moment', and the liquidity crisis of the top cryptocurrency exchange FTX triggered a series of negative market chain reactions.
On November 10th local time, a team of strategists at JPMorgan Chase reported to external media that the cryptocurrency market will face a deleveraging process that will last for several weeks due to the impact of the FTX liquidity crisis. This' turbulent 'period may lead to Bitcoin falling to around $13000. At the same time, JPMorgan predicts that the cryptocurrency market will face a "cascade of margin calls" in view of the interaction between FTX Exchange, its "sisters" trading company Alameda Research and other departments of the crypto ecosystem. According to Coindesk, as of press release, the price of Bitcoin is below $17000, and earlier today it briefly fell below $16000. On November 9th, the price of Bitcoin was still around $20000. (Reporter Wang Huirong from Pengpai News)
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