Bitcoin is in for a big week.  Traders now see $8,500 as more likely than $34,000.


Bitcoin

and other cryptocurrencies were slightly moved on Monday ahead of what could be a big week. Crypto continues to weaken as a result of the exchange The painful bankruptcy of FTX last month, with market participants increasingly bearish on the outlook.

The price of Bitcoin fell 1% in the last 24 hours to almost $17,000. The largest cryptocurrency continues to change hands just a quarter of its all-time high in November 2021, battered amid a sell-off this year which accelerated last month with the shocking collapse of FTX. Crypto exchange failure not only did token prices hit— Bitcoin lost 20% in days — but it also raised the prospect of tighter regulation and reduced institutional interest in the space.

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