Forex News Today: Bitcoin Plunges to 2-Year Low Price on FTX / Binance Contagion Fears
Bitcoin fell sharply some hours ago to reach a new 2-year low just above $17k, triggered by news of an emergency deal between the crypto exchanges FTX and Binance, raising fears of contagion within the retail crypto industry.
The US Dollar continued to decline for a third day, as stock markets rose weakly. Both are likely driven by the likelihood of the Republicans making gains in mid-term congressional elections The better Republicans do, the more of a positive bump the stock market will be likely to enjoy, and the more the US Dollar will likely decline against other major currencies.
Daily new global coronavirus cases dropped last week, continuing a downwards trend which began last July.
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