Bitcoin Price Drops Two-Year Low

Bitcoin hit $15,480 which is its lowest level since November 11, 2020.

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At the press time, BTC price is $15,765.99 USD.

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After Binance announced to sell $530 million worth of FTT, the cryptocurrency market collectively collapsed.

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Investors expressed concerns about the stability of the industry.

FTT, the token of crypto exchange FTX plunged from $22 to $1.28 amid collapse.

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A hacker stole $477 million from FTX, most of which was converted into the digital coin Ether.

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However, hackers started laundering this money into Bitcoin. As they sell Ether, the price of Ether is also under pressure.

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