Price analysis 11/21: SPX, DXY, BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT
Continued selling in the cryptocurrency markets pulled the total market capitalization below $800 billion on Nov. 21. Traders are increasingly nervous about the extent of damage FTX’s collapse may have on several crypto firms. Until the uncertainty clears, it is futile to expect a sustained recovery in cryptocurrency prices.
The FTX saga has broken the close correlation between the United States equities markets and (BTC). While Bitcoin is trading close to its 52-week low, the S&P 500 (SPX) has recovered sharply from its low made on Oct. 13.
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