Bitcoin Drops Amidst Crypto’s Latest Debacle

Bitcoin recently traded just below $16,700, down 1.4% in the last 24 hours as Bitcoin investors resumed their defensive stance in the past week. Ether recently changed hands at around $1,200, down 3.7%. Other major altcoins were mostly in the red with both CEL and UNI down more than 5%. FTX’s FTT token fell nearly 4% to trade at just $1.66, far off its highs near $36 earlier in the year.