November 11, 2022
By : Quick Insurance Guru
The crypto top ten posted a bearish Friday. Max led the way down.
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BTC saw its red flag for the fifth day in six sessions, while wrapping up at $17,000.
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News of FTX's bankruptcy sent the broader crypto market deep into the red.
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Former CEO Sam Bankman-Fried resigned after the company filed for bankruptcy.
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The news that Justin Sun is willing to provide billions to FTX to plug the $9.4 billion hole provided little market comfort.
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The crypto market mood was in stark contrast to another bullish day for the NASDAQ Composite Index.
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Following the inflation-fueled rally on Thursday, the Nasdaq Stock Market (NASDAQ) rose by 1.88% on Friday.
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Investor sentiment towards a Fed pivot continued to drive the NASDAQ higher in early trading at the end of the week.
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Today, there are no distractions from the US economic calendar.
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The markets will stay focused on the latest from the U.S. government and regulators, including FTX, bailout news and contagion.
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