The bitcoin trading price has fallen below the $28K mark.
The average BTC transaction cost reached $19.20.
Bitcoin (BTC), the largest cryptocurrency by market capitalization, has shown a lot of ups and downs in recent days. A few days ago, Bitcoin reached the $30 mark even after the Fed’s interest rate hike. But now BTC’s trading price has fallen below the $28K mark, and it has shown a bearish intent in the last 24 hours.
We’ve temporarily closed $BTC withdrawals as the #Bitcoin network is experiencing a congestion issue.
Our team is currently working on a fix until the network is stabilized and will reopen $BTC withdrawals as soon as possible.
Rest assured, funds are SAFU.
— Binance (@binance) May 7, 2023
Recently, the world’s largest crypto exchange, Binance, temporarily paused Bitcoin withdrawals on its platform. Binance stated that the decision was based on the congestion issue impacting Bitcoin’s network. And due to the larger volume of pending transactions. Moreove
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