Bitcoin was recently trading just below $16,700, down 1.4% over the past 24 hours as Bitcoin investors resumed their defensive posture of the past week. Ether was recently changing hands at about $1,200, a 3.7% decline. Other major altcoins were largely in the red with CEL and UNI both off more than 5%. FTX’s FTT token declined nearly 4% and was trading at just $1.66, far removed from its high near $36 earlier in the year.