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Crypto Markets Entering the 'Depression' Phase Amid FTX Bankruptcy Filing

Following FTX's Chapter 11 bankruptcy filing and CEO Sam Bankman-Fried's resignation, bitcoin (BTC) immediately dipped to the $16,000 level. "There's likely more pain ahead before we can finally form a bottom," said Matt Weller, Forex.com Global Head of Research.

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Has Bitcoin’s Price Hit Bottom Yet?

Bitcoin (BTC) is trading sideways around $19,000, as central banks around the world continue to raise interest rates in a bid to tame inflation. Matt Weller, global head of research at Forex.com, joins “All About Bitcoin” to discuss if bitcoin has already hit bottom amid global recession concerns.

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More Pain in BTC Ahead?

Forex.com Global Head of Research Matt Weller breaks down bitcoin’s MVRV (market-value-to-realized-value) ratio, discussing why we could be in for more pain in BTC and the wider crypto ecosystem before a solid bottom forms. Plus, insights into BTC’s Mayer Multiple and dominance charts, and what they reveal about the cryptocurrency’s next move.

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What's Next After Bitcoin's Wild Ride?

Bitcoin is recovering to above $39K after a wild day in trading, touching below $30K in session lows. Matt Weller, the Global Head of Market Research at Forex.com, shares his analysis on the market pullback, the benefits of flushing leverage from the markets and bitcoin outlook.

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