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Bitcoin Hits 2-Year Low Below $16K After Binance Backs Out of FTX Deal

Bitcoin's price fell as low as $15,625 Wednesday. It was the first time the largest cryptocurrency has fallen below $16,000 since November 2020. The BTC price was down 14% on the day, the biggest plunge in almost five months.

Bitcoin (BTC) price over the past week, showing drop to $15,625 on Wednesday, the lowest since November 2020. (Source: CoinDesk)
Bitcoin (BTC) price over the past week, showing drop to $15,625 on Wednesday, the lowest since November 2020. (Source: CoinDesk)