Crypto Markets Experience Worst Week Since FTX Collapse

The cryptocurrency market has seen a significant decline in recent weeks, with Bitcoin falling 17.3% and Ether dropping 22%. This marks one of the worst weeks for crypto markets since the FTX collapse in November 2022.

The total crypto market lost around $390 billion in value, leaving the overall market cap just above $2 trillion. TradingView data shows that the peak market capitalization was nearly $4.2 trillion in October.

Leveraged traders took heavy losses, with around $7 billion in positions being liquidated across crypto markets during the week. Most of these liquidations were long positions, meaning traders who bet on prices rising.