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Crypto crash; Bitcoin, Ether, Solana all falling!

Bitcoin hit its lowest level in two years today!

Pressure on cryptocurrencies continues, as traders mull whether crypto exchange Binance will actually acquire rival FTX and amid lingering concerns over contagion in the loosely regulated industry.

Statista Tweet on BTC and crytpo crash

Chart on BTC plunge amid rising concerns in the broader market 

In recent market action:

Bitcoin shed another 8.6% of its value from its late-afternoon level Tuesday to trade at about $17,106 apiece. On Tuesday it had dropped more than 9%.

Ether is down nearly 13% since late Tuesday.

Cryptocurrency solana, which one of FTX’s market makers Alameda reportedly held, has fallen by more than 44% in 24 hours.

FTX’s own token, called FTT, has lost more than three-quarters of its value over the same time frame.

Cryptocurrency exchange FTX succumbed Tuesday to a sudden liquidity crunch, and unexpectedly agreed to be taken over by rival Binance. Traders aren’t sure the deal is done, though. Binance CEO Changpeng Zhao wrote on Twitter that his company could pull out from the deal at any time.