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Bitcoin slips under $17K, crypto stocks tumble in reaction to FTX bankruptcy

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Bitcoin and the wider crypto market tumble after FTX announces bankruptcy.

Bitcoin, Ethereum and MicroStrategy comparison. Source: TradingViewMicroStrategy , led by the outspoken advocate of Bitcoin Michael Saylor, is down 32.57% on Nov. 11 in a 5-day period. MicroStrategy holds about 130,000 Bitcoin and, therefore, its stock price is heavily correlated with BTC/USD. Meanwhile, the tech-heavy NASDAQ has gained 0.79%.

Mining stocks have seen losses today, with the Hashrate Index Crypto Mining Stock Index showing a 0.14% loss at midday Nov. 11. Top miners' market performance is much lower. Marathon is down 4.95%, Riot is down 5.74%, and Hive is down 16.08%.Meanwhile, ETH price saw a 22% decrease this past week despite Ether becoming

since the Merge. Over 8,000 Ether have been burned in the last seven days bringing the yearly rate to -0.354%.In addition to the FTX debacle hindering the Ether price, aData from

 

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This is a really interesting year in crypto. One of the most fascinating, that's for sure.

FTX is junk it has no value sell while you can

Bitcoin next 👇 $1000. Remember Saylor bought big bags at $48k.

Wake up, it's been under $17K since yesterday

It is gradually rising

Because it's not like it wouldn't have dropped anyway.

Such BS…we should be rallying 😞

Its not FTX fault but investors ignorance...BTC is BTC

Who likes money anyways..

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