Bitcoin, gold rise 3% following FTX’s crash while Ethereum, USD, others crash

Dec. 23, 2022 at 12:30 pm

By Oluwapelumi Adejumo 

Despite the fear and uncertainty in the market, Bitcoin's price has been positive over the period in contrast to Ethereum.

Bitcoin’s (BTC) value has risen by roughly 3% since FTX filed for bankruptcy on Nov. 11, according to CryptoSlate data.

Bitcoin, gold up 3%

Bitcoin traded at a low of $15,742 on Nov. 10, when FTX was dealing with a bank run that eventually led to its collapse.

During this period, retail traders withdrew their coins en masse from centralized exchanges pushing BTC’s reserves on these platforms to 2018 levels. In addition, leading crypto platforms like Binance and Coinbase recorded withdrawals from their platforms as investors favored self-custody.

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