Bitcoin updated a two-year low

According to Cryptovizor, a cryptocurrency screener analyzing the BTC/USD market price on the largest spot exchanges, on November 21, the asset updated on Binance at a minimum of $15,476. By the time of publication, the price of bitcoin had risen to $16,136.

The cryptocurrency industry continues to feel the detrimental impact of the collapse of the FTX exchange. Shares of the largest cryptocurrency exchange in the United States, Coinbase, fell to a record low after the CFO said that there was “only a small risk of the company going bankrupt.”

What’s wrong with Grayscale

The largest investment trust on the market — Grayscale Bitcoin Trust (GBTC) — also turned out to be “infected” after the part of the Digital Currency Group Corporation (DCG) that owns GBTC, the Genesis Trading company, stopped operations on cryptocurrency lending. This caused a series of rumors about the solvency of Genesis and DCG. The situation was aggravated by the fact that Grayscale refused to provide the addresses of its wallets, which could confirm the volume of bitcoins owned by the trust.

Rumors also spread that DCG owed Genesis $1.1 billion.

Stockmoney Lizards trading resource assessed the situation with Grayscale as follows: “GBTC owns approximately 648,000 BTC. Grayscale discount reached a record 43% amid uncertainty due to FTX.”

The market is full of hysteria, everyone is waiting for a reason for bitcoin to fall to $ 10,000.