Bitcoin traded with notable volatility after its worst day since the FTX collapse, with a sharp sell-off erasing more than half of its value before a rapid reversal. The price recovered, rising around 3% from its session low. From 4 p.m. Eastern on Wednesday to its lowest point Thursday evening, bitcoin had declined a total of about 17%, FactSet data showed, trading just above $60,000 a coin at one point. Earlier on Thursday, bitcoin tallied its biggest one-day drop since the collapse of the crypto exchange FTX.
Investors will likely monitor further price action as the market digests the FTX fallout and other macro drivers. Volatility remains a feature of the current crypto environment.
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