Cryptocurrencies continue to decline

Continue the negative streak in the cryptocurrency market after the collapse of the FTX exchange platform. In that sense, the Bitcoin fell 0.62% and stood at around u$s 16,945.50.

Meanwhile, the Ethereal registered a decline of 1.17%, leaving its price in the range of $1,200. When comparing trading to the previous week, both currencies lost 0.2% and 0.5%, respectively.

FTX implosion causes hedge fund defaults

The Bitcoin Fear or Greed Index stands at 25 pointswhich represents a situation of extreme fear and an indication of a possible decline in the market in the short term.

One thing to keep in mind is that, despite failing to return to trading near all-time highs, the leading cryptocurrency in the market had a significant rebound in the last 15 days. Thus, I go from a minimum of US$15,506 on November 21 to the current price of around US$17,000.

Crypto drama: Binance will not buy its main competitor FTX

Cryptocurrencies in decline

The ten cryptocurrencies with the largest market volume are also trading lower. The pullback is led by Dogecoin, which has lost 5% over the past day to leave its price in the $0.1 range.

It is followed by Cardano, with a 3% drop, which leaves its price at $0.31; Polygon with a decrease of 2.7% to trade at u$s 0.9; Binance Coin, which loses 2.2%, placing its price at US$288; and Ripple down 1.9% to trade at $0.38.

In the comparison of the last 7 days, only two of the main cryptocurrencies are in the green: Polygon is up 8% and Cardano is up 1%. While Binance Coin is down 4%, Dogecoin is down 3% and Ripple is down 2% compared to last week.


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