Bitcoin and Ethereum continue to feel the fallout of the FTX collapse

Bitcoin and Ethereum continue to lose ground as market players remain sensitive following the FTX fallout.

Bitcoin, the largest coin by market cap, lost 4.22% to US$16,010 in the last 24 hours, while Ethereum faded 8% to US$1,121.

According to Naeem Aslam, a market analyst at Avatrade, Bitcoin and Ethereum had another tough weekend and “the market players are still very much concerned about another domino effect”, albeit for now traders are optimistic the worst is behind them.

“The dollar strength and the adverse FTX news flow will still determine the price of BTC,” Aslam added.

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