Why is the crypto market down today?

Crypto prices are falling across the board on Nov. 8 as potential contagion from the FTX and Alameda controversy impact the entire crypto market.

Earlier in the day, (BTC), (BNB), (ETH), FTX token (FTT) and (SOL) had seen sharp rebounds after news that Binance would acquire FTX, but the bounce was short-lived.

Cryptocurrency market performance, daily timeframe: Coin360