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TON, TWT, CHZ and QNT breakout amid traders’ crypto contagion fears

Published 11/20/2022, 03:50 PM
Updated 11/20/2022, 05:40 PM
TON, TWT, CHZ and QNT breakout amid traders’ crypto contagion fears

The FTX collapse continues to stoke fears of a contagion in the cryptocurrency space as investors wait to hear about businesses that may face the heat. One of the marquee names to come under the circle of suspicion is the Grayscale Bitcoin Trust (GBTC), which has seen its discount to Bitcoin’s (BTC) price reach record levels of about 50%.

Traders hate uncertainty and shy away from investing during these periods. That could be one of the reasons for a lack of buying interest in Bitcoin even after the sharp fall in its price. The Stock-to-Flow (S2F) model, which had seen its popularity soar during the bull phase, is coming under increasing criticism after the deviation between Bitcoin’s price and its projected price hit levels never seen before.

Crypto market data daily view. Source: Coin360
BTC/USDT daily chart. Source: TradingView
BTC/USDT 4-hour chart. Source: TradingView
TON/USDT daily chart. Source: TradingView
TON/USDT 4-hour chart. Source: TradingView
CHZ/USDT daily chart. Source: TradingView
CHZ/USDT 4-hour chart. Source: TradingView
QNT/USDT daily chart. Source: TradingView
QNT/USDT 4-hour chart. Source: TradingView
TWT/USDT daily chart. Source: TradingView
TWT/USDT 4-hour chart. Source: TradingView

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