Bitcoin price falls to the $16,000 range
In the early hours of trading on Thursday, following the significant drop in the FTX token price, Bitcoin and the cryptocurrency market experienced a decline, with most coins in the red zone.
The global cryptocurrency market value is currently $83.646 billion, showing a 7.91% drop compared to the previous day.
Additionally, the total trading volume in the past 24 hours has decreased by 5.28% and has reached $19.046 billion.
On the other hand, $105.718 million worth of short positions in Bitcoin futures have been liquidated over the past 24 hours.
Bitcoin and Ethereum both fell by about 10%, trading at $16,687 and $1,184 respectively.
Other well-known cryptocurrencies like Dogecoin, Shiba Inu, Ripple, and Cardano also saw a decline in prices.
