The FTX-Binance drama has adversely affected the crypto space, especially the star cryptocurrency, Bitcoin which has dropped steeply below the $17,000 area. The latest updates from JP Morgan claim that Bitcoin is about to plunge towards $13,000 level. As per JP Morgan the crypto market will face huge margin calls in the coming weeks due to FTX getting into bankruptcy.
On the other hand, technical strategy head, Mark Newton has predicted Bitcoin to bounce back towards $13,000 level. Newton is also of the opinion that if bulls fail to capture the market, the King currency will fall around $10,000 further.