Bitcoin briefly sank below $17,000 as doubts about wherence acquiring FTX lingers on.
Bitcoin hit a low of $16,913 on Coinbase, according to TradingView data, before recovering and trading at $17,169 at 11:06 a.m ET.
CoinDesk had reported that Changpeng Zhao’s exchange is unlikely to complete the acquisition after an early examination of FTX’s finances.
The crypto market this week has swinged sharply around the news of crypto exchange FTX’s collapse and subsequent prospective deal to sell itself to Binance.
