Bitcoin's Worst Week Since FTX Collapse: Market Value Plummets Over $390 Billion

Bitcoin has experienced its worst weekly performance since the FTX collapse in 2022, with a decline of nearly 17.3% over the past week. This slump has resulted in the loss of approximately $390 billion from the total crypto market value.

The damage was exacerbated by leveraged positions being liquidated, totaling nearly $7 billion, which further accelerated the price drop. Analysts have expressed concern that the token's recent rebound may not be sustainable due to ongoing structural issues within the market.