Bitcoin Plunges Toward $16K on More FTX Bad News (Market Watch)

Crypto markets shed another $30 billion following the news of FTX’s bankruptcy and, subsequently, the reported hack.

The past couple of days have been a complete rollercoaster in the cryptocurrency field, and there are no signs of slowing down. Just yesterday, FTX officially filed for voluntary Chapter 11 Bankruptcy proceedings in the US, sending the markets into another meltdown.Bitcoin’s price can’t catch a break. After attempting a recovery following positive CPI numbers Thursday, the cryptocurrency experienced another meltdown on Friday.As seen in the above chart, the cryptocurrency has since recovered to where it currently trades at around $18,800, but it remains down 3% in the past 24 hours.

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