Many analysts have called today, June 13, 2022, “Black Monday.” Bitcoin’s price has plunged to levels last seen in December 2020. Many exchanges have temporarily halted withdrawals due to excessive volatility.

Binance has put a three-hour hold on bitcoin withdrawals. However, this option was later reopened. Users submitted a large number of applications, resulting in a functional overload. As a result, numerous withdrawal requests were completed in several hours.

According to the exchange’s CEO, all user funds were safe as long as the market remained very volatile.

Users of the Celsius platform had a harder time. Since Sunday, the withdrawal of monies from it has been halted. This is noted in the platform’s official blog.

The price of bitcoin has dropped to a catastrophic low. The price of BTC was $23.48 thousand, according to CoinMarketCap. The price of ETH was $1230 at the time. However, when a whale sold 93,000 ETH on Uniswap, the cryptocurrency sold at $950.

Withdrawals have not yet been halted on any other exchanges. On Monday, Kraken spokesman Pierre Rochard stated that withdrawals over the Lightning Network were 100% possible.


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