Crypto Markets Tumble as FTX Bankruptcy Fears Spook Traders

Crypto markets experienced a significant downturn on Monday as traders became concerned about potential selling pressure from bankrupt exchange FTX. Bitcoin (BTC) saw a decline of over 2% and briefly dropped to as low as $24,963 during U.S. morning hours. This marked the first time since mid-June that Bitcoin fell below the $25,000 level. However, it has since recovered some of its losses and is currently trading at around $25,140, representing a 2.6% decrease in the last 24 hours.