Bitcoin tumbled Monday to an 18-month low under $23,000 in a broad cryptocurrency crash, as investors shunned risky assets in the face of a vicious global markets selloff, just seven months after the virtual unit surged to a record high.
The world’s most popular crypto asset also took a heavy knock from news that crypto lending platform Celsius Network paused withdrawals, citing volatile conditions.
Losses accelerated as major exchange Binance temporarily suspended bitcoin withdrawals but advised customers to use other networks.
World stock markets have plunged since Friday when data showed US inflation at a fresh four-decade high.
That heightened global recession fears and sent investors fleeing risky cryptocurrencies like bitcoin and ether — and embracing traditional safe assets such as the dollar.
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