Sam Bankman-Fried Blames Lawyers for FTX’s $100B Collapse, Claims Exchange Was Never Insolvent
Bitcoin’s recent price action is drawing comparisons to one of the most dramatic commodity bubbles in modern history. Veteran trader Peter Brandt says the cryptocurrency’s chart now resembles the 1970s soybean market—an era defined by a sharp boom-and-bust cycle.
Net asset values (NAVs) in digital asset treasuries (DATs) have plunged, signaling the end of what some analysts call the “age of financial magic.” Despite the downturn, market experts believe the correction could create opportunities for informed investors to secure long-term positions in undervalued Bitcoin-linked companies.
After a consolidation around $96,500, Bitcoin faced selling pressure, bringing its price down towards the support level of $89,000. Check out Elyfe's analysis to decipher the technical perspectives of BTC.
Bitcoin is in a tough situation! Over the past few weeks, many analysts have predicted a certain rise in the power of the queen of cryptos. But since the beginning of the year, the opposite situation has been observed. The asset has indeed fallen several times to currently settle at barely $40,000. For some, this is only the beginning of a dark period.