Pressure on Bitcoin is gaining momentum

17 November 2022 207
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It's been more than a week since one of the largest cryptocurrency exchanges, FTX, reported difficulties in its operating cycle. In fact, FTX went bankrupt, with many investors suffering losses. Numerous exchanges are now setting up recovery funds and publishing their assets on the balance sheets.

Currently, investors are recovering from the FTX collapse. Bitcoin appears to be stable at the level between $16,000 and $17,000. But it’s worth keeping an eye out!

Other crypto market participants may have new challenges in the near term. Since all market players are interconnected, the bankruptcy of a major actor won’t go unnoticed. A "knock-on effect" may impact funds, exchanges, and large investors. 

To understand all potential issues, the chart given below shows Deutsche Bank's relations with other market participants.