Bitcoin Prices Are Weak. Here’s Proof That Gloom Is Spreading Across Crypto. | Barron’s


Bitcoin

and other cryptocurrencies were largely weaker on Friday. The digital asset space continues to face pressure amid the fallout from crypto exchange FTX’s collapse, with signs that gloom is spreading across market participants.

The price of Bitcoin was edging lower, down less than 1% over the past 24 hours to around $16,500. The largest crypto has held above its recent two-year lows near $15,550, hit during peaks of selling amid fears over trouble at FTX and later its bankruptcy—the full effects of which are likely still unknown. But Bitcoin has still fallen some 20% in just weeks and is now trading at less than a quarter of its all-time high near $69,000 from a year ago.

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