Volatility spikes in the crypto market as Binance looks to acquire FTX

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

According to various analysts and strategists, it’s widely anticipated that a Republican victory would be positive for the stock market, while the outlook is less rosy in the case of a Democratic triumph. The two-week low in Bitcoin price was touched on in the morning update from Kitco senior technical analyst Jim Wyckoff, who noted that the “price uptrend on the daily bar chart has now been negated and bears have quickly gained fresh technical strength to suggest some more downside price pressure in the near term.”

— CZ 🔶 Binance November 8, 2022 While many were quick to assume that this would put an end to the current pullback and reinitiate the uptrend witnessed the week prior, cryptocurrency analyst il Capo of Crypto posted the following tweet offering a word of warning.

⚡️

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Tensions between crypto’s two richest CEOs spill into marketsDust\u002Dup between Binance\u0027s Zhao “CZ” Changpeng and FTX\u0027s Sam Bankman\u002DFried comes at a fraught time for the crypto industry. Read more.
Source: financialpost - 🏆 7. / 85 Read more »

As fear around FTX’s solvency stands under suspicion, FTT bears the bruntAs the FUD surrounding FTX’s solvency deepens, its native token FTT continues to suffer more distribution. FTT was trading at $15.65 at the time of press. Furthermore, the price of the 30 largest cryptocurrency by market capitalization declined by over 25% in the last 24 hours, data from CoinMarketCap revealed. Here’s AMBCrypto’s price prediction for FTX […]
Source: CryptoAmb - 🏆 22. / 68 Read more »