Cryptocurrency prices: Will crypto recover, will Bitcoin go back up? 2022 predictions

The firm announced today that it had “paused all withdrawals, swap, and transfers between accounts”.

Celsius assured customers that “operations will continue”, and it would “continue to update the community”.

The statement added: “Celsius has taken this action to stabilise liquidity and to preserve and protect assets.”

While observers agree the decision did not help market capitalisation, Marcus Sotiriou, an analyst at the UK-based digital asset broker GlobalBlock, said the activity started when the US Treasury posted its inflation figures.