The new collapse in the value of Bitcoin has been caused by a “cryptocorralito”, as it has been baptized by different media and experts on the subject.
The dramatic collapse that Bitcoin has had in recent hours, which has reached a value below $23,000, would have one or two causes behind it, something that has worried the entire crypto market, especially investors.
According to international media, companies such as Binance or Celsius are the ones that caused the massive drop, as both suspended Bitcoin withdrawals on their different platforms.
You may be interested in: Minister of Finance denies that there are losses due to the fall in the price of Bitcoin
In the case of Celsius, according to an article published by the Spanish newspaper El Mundo, the decision was made because the company seeks to “improve” its waiting times when carrying out transactions, as well as strengthen its liquidity.
In this sense, the company stated that the suspension was to “protect users’ assets”, something that instead of helping to improve the situation that the market had already been facing, ended up aggravating it.
The new collapse, which already has the background of the collapse of the Luna and UST tokens, from the company Terraforms, has been dubbed a “cryptocorralito”, because its purpose, in reality, is to prevent a leak of Bitcoins. from the Binance and Celsus platforms, although in the case of Binance the transactions have already been restored.
In addition, another possible cause of this collapse, according to the American media CNBC, is the massive sale of cryptocurrencies that took place over the weekend, in which up to $200,000 million in Bitcoin were liquidated, as part of the fear of the holders of that cryptoactive. .
Also: Bitcoin falls to its lowest level since 2020: How much does El Salvador lose?
The foregoing might have occurred due to the last inflationary index that was known in the United States, which reached 8.6% year-on-year and which might lead to a new rise in interest rates regulated by the Federal Reserve (Fed, for its acronym in English). ).
According to CNBC, the market capitalization of all cryptocurrencies lost up to $1 trillion (one million dollars) only today, something fueled by the massive crash of Bitcoin.
