Cryptocurrency prices crash sharply; Bitcoin falls to 2-year-low

Seems like the whole week has been bad for Crypto market as prices remained under pressure after crypto exchange Binance said it was pulling out of a deal to purchase failing rival FTX Trading.

The world’s largest cryptocurrency, Bitcoin tumbled over 10%, falling as low as $15,603.3- its weakest level since mid-2020. The token traded around $16,138.5, and has lost over 20% of its value this week.

Not only this, Ethereum (ETH) also also tumbled by more than 10% to $1,166. Dogecoin, a meme coin, which was the best performing currency for the past few days, fell 20.14 per cent.

The global crypto market cap slipped below the $1 trillion mark, as it was almost down over 12% in the last 24 hours to $844 billion, as per CoinGecko.