{"id":462108,"date":"2022-06-13T15:22:20","date_gmt":"2022-06-13T12:22:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-falls-below-24k-as-binance-halts-withdrawals\/"},"modified":"2022-06-13T15:22:20","modified_gmt":"2022-06-13T12:22:20","slug":"bitcoin-falls-below-24k-as-binance-halts-withdrawals","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-falls-below-24k-as-binance-halts-withdrawals\/","title":{"rendered":"#Bitcoin falls below $24K as Binance halts withdrawals"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a27ee8d9ca35\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a27ee8d9ca35\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-falls-below-24k-as-binance-halts-withdrawals\/#%E2%80%9CBitcoin_falls_below_24K_as_Binance_halts_withdrawals%E2%80%9D\" >&#8220;Bitcoin falls below $24K as Binance halts withdrawals&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CBitcoin_falls_below_24K_as_Binance_halts_withdrawals%E2%80%9D\"><\/span>&#8220;Bitcoin falls below $24K as Binance halts withdrawals&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n<\/aside>\n<p>Bitcoin dipped below $24,000 for the first time since 2020 as Binance, the world\u2019s biggest cryptocurrency exchange stopped users from withdrawing bitcoin early Monday.<\/p>\n<p>Binance founder and CEO Changpeng Zhao blamed the \u201ctemporary pause\u201d on \u201ca stuck transaction causing a backlog\u201d in a tweet at 8 a.m. on Monday.<\/p>\n<p>Zhao initially said the clog would take 30 minutes to clear, then wrote in a follow-up tweet that it was \u201cgoing to take a bit longer to fix than my initial estimate.\u201d<\/p>\n<p>The freeze came as cryptocurrency investors scrambled to cut their losses during an increasingly brutal rout. Bitcoin, the largest cryptocurrency, fell more than 13% early Monday.<\/p>\n<p>The second-largest cryptocurrency, ethereum, was down 13.8% at around $1,230.<\/p>\n<p>The stock market was also battered in pre-market trading, with the tech-heavy Nasdaq Composite Index slumping 2.8% and the Dow Jones Industrial Average down 1.7%.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<div class=\"embed-wrapper twitter\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This is only impacting the Bitcoin network. You can still withdraw Bitcoin on other networks like BEP-20. <\/p>\n<p>Likely this is going to take a bit longer to fix than my initial estimate. More updates soon. Thanks for your patience and understanding\ud83d\ude4f<\/p>\n<p>\u2014 CZ \ud83d\udd36 Binance (@cz_binance) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cz_binance\/status\/1536323261193236481?ref_src=twsrc%5Etfw\">June 13, 2022<\/a><\/p><\/blockquote>\n<\/div>\n<\/div>\n<\/figure>\n<p>The selloff is an indication that investors are shedding risky assets in favor of safer options like the dollar as the US continues to be slammed by record levels of inflation \u2014 forcing the Fed to hike interest rates which could potentially push the economy into a recession.<\/p>\n<p>Since peaking at $68,991.85 in November, bitcoin\u2019s value has plummeted some 65%.<\/p>\n<p>The total value of crypto assets hit a peak of $2.8 trillion last November. It fell below $1 trillion on Monday for the first time since 2020, according to CoinMarketCap.\u00a0<\/p>\n<p>Investors on Monday sought safety with the US central bank seen likely to aggressively ramp up borrowing costs further to combat runaway inflation.<\/p>\n<p>The phrases #cryptocrash, bitcoin and #stockmarketcrash were all trending on <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> Monday morning.\u00a0<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"617\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-below-24k-crypto-01.jpg?w=1024\" alt=\"In total, cryptocurrencies lost $200 billion in value over the weekend.\" class=\"wp-image-22632807\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-below-24k-crypto-01.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-below-24k-crypto-01.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-below-24k-crypto-01.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>In total, cryptocurrencies lost $200 billion in value over the weekend.<\/figcaption><figcaption><span class=\"credit\">Coinbase<\/span><\/figcaption><\/figure>\n<p>Crypto took another hit over the weekend after Celsius Network, a leading digital coin lender, put a pause on withdrawals,\u00a0citing volatile conditions in the market.\u00a0<\/p>\n<p>\u201cToday we are announcing that Celsius is pausing all withdrawals, swap, and transfers between accounts,\u201d the platform said in a statement\u00a0late Sunday.\u00a0<\/p>\n<p>Celsius made the move \u201cdue to extreme market conditions\u201d, it added.<\/p>\n<p>The total value of Celsius\u2019s customer deposits had already shrunk by more than half to under $12 billion in May compared with the end of last year<strong>.<\/strong><\/p>\n<p>Last month, TerraUSD, a so-called stablecoin that was pegged to the US dollar, collapsed, wiping out $40 billion in investor funds.<\/p>\n<p>Stablecoins are supposed to be less vulnerable to big swings \u2014 thus the name \u2014 but Terra suffered a spectacular collapse in a matter of days.\n                        <\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/06\/13\/bitcoin-falls-below-24k-for-first-time-since-2020\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Bitcoin falls below $24K as Binance halts withdrawals&#8221; Bitcoin dipped below $24,000 for the first time since 2020 as Binance, the world\u2019s biggest cryptocurrency exchange stopped users from withdrawing bitcoin early Monday. Binance founder and CEO Changpeng Zhao blamed the \u201ctemporary pause\u201d on \u201ca stuck transaction causing a backlog\u201d in a tweet at 8 a.m&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":462109,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/06\/bitcoin-below-24k-crypto-comp-1.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[74862,86883,130276,76127,5069,70551],"class_list":["post-462108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-dogecoin","tag-6-13-22","tag-cryptocurrency","tag-economy","tag-inflation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=462108"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462108\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462109"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}