Bitcoin experienced a drop of over 3% in value on Monday due to concerns that FTX may sell hundreds of millions of dollars worth of cryptocurrency after receiving court approval. FTX has requested permission to liquidate billions of dollars in crypto with a weekly cap of $100 million and the possibility of increasing that limit to $200 million.
As of the end of August, FTX held a total of $3.4 billion in digital assets, including $560 million in bitcoin, $192 million in ether, and $1.6 billion in Solana's native token. This news comes as traditional markets experience turbulence, with economists forecasting a decrease in the yield on the US 10-year Treasury note.
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