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Bitcoin falls to its lowest since November 2020 amid Binance-FTX deal

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By lapaasindia
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  • The price of bitcoin dropped to $17,300.80 on Tuesday, its lowest point since November 2020, following news that the cryptocurrency exchange Binance will be acquiring its rival FTX.
  • Following the merger news, bitcoin originally increased by 6%, but it later decreased as a result of investor concern over FTX’s balance sheet.
  • At 11.55 a.m. on Wednesday, Bitcoin was down more than 7%, trading at $18,372.07 according to Coinbase.

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