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Bitcoin Drops to $77,900 as Binance Customers Withdraw $3.6 Billion After Reopening
(4 hours ago) · 1 source · Summarized by CryptoBipto
Bitcoin fell to $77,900 as Binance customers withdrew approximately $3.6 billion following the reopening of withdrawals on the exchange. The large outflow coincided with downward pressure on Bitcoin's price. The withdrawals suggest customers moved funds off the platform after a period when withdrawals were paused.
WHY IT MATTERS
When a cryptocurrency exchange pauses withdrawals, it means customers temporarily cannot move their funds off the platform.
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SOURCES
- coindesk.com
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