Frankfurt, Nov. 10, (dpa/GNA) - The price of cryptocurrency Bitcoin has plummeted to its lowest level in two years following reports of liquidity problems at a major trading exchange.
At $16,941 Bitcoin hit its lowest level since 2020. Prices of other cryptocurrencies, such as Ether, also dropped.
The price losses were triggered by renewed investor concerns about the stability of the relatively young sector.
Following reports of liquidity problems at the major trading exchange FTX, rival Binance announced a partial takeover of its competitor.
FTX is said to have experienced significant outflows of funds from investors, according to the reports.
Before the reports, Bitcoin had still been trading above $20,000 on Tuesday.
GNA