Bitcoin Is Languishing After the FTX Selloff. When Will It Be a Time to Buy?

Bitcoin and other cryptocurrencies edged higher on Wednesday, but altogether remain little moved since crypto exchange FTX’s bankruptcy shocked the industry and slammed markets. Traders are debating whether or not to buy the big dip.

The price of Bitcoin has risen 2% over the past 24 hours to near $16,900, around the highest levels in a week. The largest digital asset remains down some 20% in November as the month draws to a close and is changing hands at less than a quarter of its late 2021 all-time high. The latest leg downward for crypto came amid the sudden bankruptcy of FTX, which has raised fears of financial contagion across markets and the prospect of renewed scrutiny from regulators.


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