Bitcoin price corrected to $17.4K after dropping below $16K

On the Binance exchange, the largest in terms of trading volume, bitcoin is growing in price by 4.45% per day, up to 17.38 thousand dollars, as of 11.16 Moscow time.

Days earlier, Bitcoin immediately lost a quarter of its value and fell to $15.6 thousand from $20.9 thousand at the beginning of trading on Monday. This was due to the news of Binance’s failed purchase of the FTX.com crypto exchange.

The collapse in the value of bitcoin occurred on Tuesday after Binance Holdings Ltd. first announced its intention to absorb the FTX.com crypto exchange, and the head of Binance, Changpeng Zhao, claimed that FTX itself asked for help due to a significant shortage of liquidity. To “protect users,” Binance signed a non-binding letter of intent to fully acquire FTX.com and help cover the shortfall, he said.

But then Binance announced the rejection of the takeover. The change in decision was due to the results of corporate due diligence, as well as news of “mishandling of client funds” and alleged investigations in the United States.