Bitcoin has seen large moves in its price today. It reached $17,229 which is the lowest price it has been at in about two years. It comes as the FTX crypto exchange experiences liquidity issues.
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Miners and e-cafes in China are now flooding the market with the graphics cards they no longer need. As crypto crashes, mining becomes financially inefficient, thus forcing miners to sell their GPUs.
Reports suggest that 69k Bitcoins with ties to the Silk Road have been pushed out of the world's fourth-largest Bitcoin address. Speculations link site creator Ross Ulbricht to the move.
Lloyds Banking Group customers will no longer be able to use their credit cards to buy bitcoin. The firm is worried that customers will spend too much on it and not be able to pay back the money.
