Market Analysis: A drop below $22 could mean a more significant ride down for FTT. GWilliamsJr_CMT reports
Crypto investors will be noting two significant macro events this week: the Nov. 8 midterm elections and the Nov. 10 Consumer Price Index report.
When Binance CEO Changpeng Zhao announced earlier that his crypto exchange would liquidate all remaining FTT on its books, Alameda CEO Caroline Ellison responded that her company would “happily buy back” FTT at $22 from them. An asset’s price tends to move slowly in “high volume node” areas, as there is generally sufficient market demand at those particular price levels.
It can be argued that another significant decrease in activity exists below $10, until approximately $5.
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