Why the crypto market should brace for another downward pressure

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FTX could start liquidating its recovered crypto assets in the coming week, exerting significant downward pressure on the market.

The proposed plan was subject to the approval of the Delaware Bankruptcy Court which was expected to review the case on 13 September. If the court grants permission, it would trigger a sell-off cycle at the rate of up to $200 million each week.in cryptos available for stakeholder recovery at the then market prices. Overall, the exchange managed to recover assets worth more than $7 billion in liquid cash, cryptos, and securities, since going bust in the fall of 2022.

. The DeFi analyst predicted that SOL might experience greater sell-off pressure in the days to come.

 

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