FTX crashed crypto in 2022, but it might be saving the market again
- Bitcoin dropped below $50,000 for the first time since February 2024.
- Ethereum and Solana experienced sharp drops in their prices.
- The market downturn was influenced by the US job market data and governments selling off their crypto holdings.
The recent market downturn in the crypto industry has raised concerns about its stability and susceptibility to external factors. The US job market data and governments selling off their crypto holdings have contributed to the negative sentiment. While FTX's payout to customers has provided some stability, experts predict a period of volatility before the market stabilizes.
