FTX-related news is shaking up the market again: After it was revealed that SBF is seeking a Trump pardon, <a>$FTT </a> surged about 62% in a short period, a classic "event-driven + low liquidity" scenario that got amplified quickly.
However, it's crucial to note that FTT is still highly correlated with the bankruptcy proceedings of FTX, creditor payouts, and other fundamentals. This short-term spike primarily reflects sentiment and speculative money, rather than a true revaluation of the project's worth. When chasing trends, keep an eye on the trading volume and the speed of pullbacks to avoid mistaking news spikes for trend reversals.
<a>#FTX #FTT </a>#crypto market
However, it's crucial to note that FTT is still highly correlated with the bankruptcy proceedings of FTX, creditor payouts, and other fundamentals. This short-term spike primarily reflects sentiment and speculative money, rather than a true revaluation of the project's worth. When chasing trends, keep an eye on the trading volume and the speed of pullbacks to avoid mistaking news spikes for trend reversals.
<a>#FTX #FTT </a>#crypto market