FTX Back Haunting Investors, The Crypto Market Will "Crash"!

<p>&nbsp;"Damn it won't go down, the price of BTC has yet to break through $30K."</p><p><br /></p><p>Concern among investors sparked and the entire cryptocurrency market yesterday saw a decline with Bitcoin (BTC) trading below $24,970 as FTX was rumored to be under selling pressure.</p><p><br /></p><p>This is because investors believe FTX will get approval from the bankruptcy court to sell its digital assets worth $3.4 billion.</p><p><br /></p><p>According to Singapore-based digital asset service provider Matrixport in its report, altcoins are expected to experience a significant decline throughout 2023 following FTX's possible token sale as early as this week.</p><p><br /></p><p><br /></p><p>So here it can be seen that Solana (SOL) will be the most affected digital asset as almost 16% of its total supply is reported to have held $1.16 billion in SOL.</p><p><br /></p><p>The streak, SOL which has currently slipped up to $17.70 from $20 is predicted to continue its decline to the $15 support zone and then $10 if it still shows no bullish reaction.</p><p><br /></p><p>Not only that, ETH was also able to plunge below $1,500 and this means that its price could drop back to $1,000 following the growth of the digital asset protocol found to be increasingly disappointing.</p><p><br /></p><p>The bankrupt FTX also held $560 million in BTC and hundreds of millions of anonymous tokens, so the crypto exchange used a digital asset investment firm called Galaxy to help with its sales.</p><p><br /></p><p>As of this writing, BTC price has plunged by 2.12% to $25,139 in the last 24 hours with a market cap of $489 billion and has recorded a 2.56% decline over the last week.</p>