Bitcoin dipped to $2,300, but the real problem is FTX's collapse broke wrapped Bitcoin on Solana. Users thought they owned real Bitcoin but held worthless tokens instead. Stick to native Bitcoin and avoid wrapped versions until things stabilize.
Bitcoin has crashed to $2,300. Just kidding, this is due to FTX. People were holding wrapped Bitcoin, which means Bitcoin wrapped on another network. In this case, it was Solana. People were really holding this thinking they were holding real Bitcoin backed 1-to-1, but since the collapse of FTX, this has depegged and is clearly not backed 1-to-1 with Bitcoins. All these people who were thinking they were holding real Bitcoins or who had wrapped their Bitcoin onto the Solana network are now, you know, done for. Yeah, they lost their Bitcoin. This is horrible. It's just headline after headline of horrible stuff coming out. I feel for anyone who had their money in this. Let's see how bad it gets. Just buy the real asset right now. Don't be messing with any wrapped coins right now.
