Bitcoin has crashed below $24,000, hitting its lowest level since late 2020.
More than $200 billion was wiped from the entire cryptocurrency market as of Monday morning.
It’s the latest in a string of price crashes for the cryptocurrency, which has seen it fall more than 60 percent in value over the past seven months.
Several leading cryptocurrencies, including Ethereum (ETH), Cardano (ADA), Solana (SOL) and Dogecoin (DOGE), suffered even bigger losses than Bitcoin, falling 15 to 25 percent over the past day.
While many crypto holders are liquidating their assets, crypto lender Celsius told customers that they would be temporarily unable to withdraw funds from the platform.
“Due to extreme market conditions, we are announcing today that Celsius is pausing all withdrawals, swaps and transfers between accounts,” the company said today.