Binance Halts Bitcoin Withdrawals Twice, Price Drops

Bitcoin prices were falling after the cryptocurrency exchange Binance paused withdrawals of Bitcoin twice on May 8, 2023.
Binance cited a high volume of pending transactions as the reason for stopping withdrawals.
According to Binance, large Bitcoin transfers reported on social media were internal transactions.
The pauses in withdrawals and subsequent price drop were reported by Barron's and other media.
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