The BTC/USD price dropped below 16,000 for the first time since Monday last week as liquidity concerns in the crypto industry continued.
It dropped to a low of 15,618, meaning that Bitcoin has dropped by almost 30% from its highest point this month.Bitcoin and other cryptocurrency prices continued their sell-off as concerns about liquidity in the industry continued. A key issue is the recent collapse of FTX and Alameda Research. In a report, analysts at Kaiko warned that their collapse could lead to the so-called Alameda Gap because of the billions the company provided in liquidity.
Meanwhile, investors are getting extremely fearful in the industry. The closely watched fear and greed index declined to the extreme fear level of 20. Historically, Bitcoin tends to decline when fear engulfs the crypto industry.
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