Bitcoin briefly dropped below $17,800 as sell-off accelerates — here's what happened
— Happened, Investors, Fell, Industry, Accelerates, Selloff, Getty, Assets, Heres, Briefly, Celsius, Dropped, Think, Crypto, Market, Bitcoin — 1 min read
Bitcoin plunged to $17,749 and ether fell to about $897 at around 4:15 E.T. on Saturday afternoon. Bitcoin bounced back to around $18,955 and ether was trading at about $995 just after 8 p.m. ET. Celsius, a major crypto staking and lending firm, announced that all withdrawals, swaps and transfers between accounts have been paused due to "extreme market conditions" Celsius effectively locked up its $12 billion in crypto assets under management, raising concerns about the platform's solvency. Crypto firms across the board are looking for ways to cut costs, as investors rotate out of the riskiest assets. Source