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Bitcoin falls below $17,000 for the first time since 2020

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The price of bitcoin has fallen below the $17,000 mark for the first time in two years. The last time the BTC reached this level was in November 2020, according to TradingView data.

The collapse of bitcoin comes in the context of the market debacle caused by the collapse of one of the world’s leading stock exchanges, FTX. Within two days, BTC fell about 15 percent. a YOUR QUOTE market price.

At the time of writing, BTC has rebounded slightly and is trading at about $17,170. But the fall, which has brought it to $16,857 per unitmakes cryptocurrency price support appear at risk.

The bitcoin price chart shows a fall toward the ,000 level.
Bitcoin reached the $17,000 level on Wednesday, November 9. Source: TradingView.

As we previously reported on CryptoNews, the market is. radically in the red. Besides bitcoin, most of the larger cryptocurrencies accumulated double-digit declines in 24 hours. Solanain addition to the token TLT of the FTX exchange, lead the ranking of the most affected at the moment.

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