Bitcoin continues to slide on fears of FTX crisis

The world’s most famous cryptocurrency held steady at $15,824 on Monday at the time Wall Street opened following a weekly close at levels not seen since late 2020. At time of writing, bitcoin is trading around $15,780.

Coinbase lost over 25% of its value in only four trading sessions as investors fear more fallout from FTX’s collapse and more fears are growing from the probable domino effect.

Shares closed down more than 8% Monday, extending a slide that pushed the crypto exchange to its lowest point since April 2021.

The drop comes as bitcoin continues to slide. Meanwhile, rumors over crypto business company, Digital Currency Group (DCG) continued to spin cross the crypto market, with unproven allegations about liquidity problems on the social media.