Crypto Crash: Bitcoin Dey Fall, FTX Law Suit and Kwon See Say
Di crypto market don fall more than 2% after e reach $4 trillion valuation, as Bitcoin (BTC) no fit break e $122,000 resistance and e drop under $120,000 to about $118,700. Ethereum (ETH) stop due to profit-taking, e slide from $4,364 to $4,292. Major altcoins like Solana (SOL), XRP, Dogecoin (DOGE) and Cardano (ADA) drop between 4–6%.
For legal side, FTX users don file new class-action against Fenwick & West law firm, accusing dem say e help Sam Bankman-Fried fraud by arranging conflicted entities and hiding customer fund misuse. Terraform Labs co-founder Do Kwon suppose enter change of plea for New York, as e dey face charges of securities fraud, market manipulation, money laundering and wire fraud for Terra collapse.
Analysts warn say US fit nationalise corporate Bitcoin treasuries wey dey hold almost $95 billion BTC, dey see parallels with 1971 gold standard time. Meanwhile, BTC pioneer Samson Mow predict say Ethereum holders go rotate back to Bitcoin once ETH price peak, fit make short-term ETHBTC volatility increase. Traders suppose watch key support at $119,000 for BTC and $4,300 for ETH to know the next move direction.
Bearish
Di kombinéshon di 2% mɔ́két déklin, Bitcoin no fit méin op óver dèm kí risístens lévél, plus di tín we pipu dɔn redí gains fɔr major altcoins, ol di dá shò tóld wí dat di market goin dóun. Laws we dem dɔn meki like di klas-aksion we FTX dem meki agɛ́nst Fenwick & West an di tóp man Do Kwon still no clear yet, dɛn de bring regulation wahala. Analist dem dɔn sée say if USA tek control of company BTC money, dat one go put pipul in bad mind. For before, wen regulation an law people dɔn bring pressure, market dɔn go down sharp, so e show say for short time bearish ting go stay. Traders wey dɔn deal wit dis tin, dem sure fi watch BTC support at $119,000 an ETH at $4,300; if price fall below dat, e fit continue go dóun, but if e bounce back, dat one fit mean market go stable.