How BTC Price will react next, after the FTX's collapse?

[Heena Kousar]

Since the crash of one of the famous crypto exchange FTX become an embarrassment for the whole crypto industry as if failed to build trust among users and offered properly secured infrastructure. Without any doubt FTX's demise has thrashed many investors with a loss of billions of dollars and pushed miners to quit their mining journey because their profitability has notably decreased because of the market crash.

Also, Bitcoin trades near a vast bearish region of $16K, the mining potential of BTC miners decreases with decreased profitability as mentioned in the Coinpedia article. What will be the bottom price range of Bitcoin in the coming weeks?