![Bitcoin [BTC] FUD on the rise: Are Binance and Robinhood to blame?](https://i.headtopics.com/images/2023/5/8/cryptoamb/bitcoin-btc-fud-on-the-rise-are-binance-and-robinh-bitcoin-btc-fud-on-the-rise-are-binance-and-robinh-1655627374224977945.webp)
Binance and Robinhood begin to face issues in terms of withdrawals. FUD amongst traders rises as short positions taken increase.
BTC prices get negatively impacted, traders turned bearish.has been on the rise for quite some time. Ever since Bitcoin’s price rallied over the last few months, the sentiment around the king coin has mostly been positive.However, recently there has been an increase in the FUD surrounding Bitcoin. Initially, the FUD began due to large transactions BTC being made by Binance. There was anof 117,359 BTC, and the inflow of 10,036 BTC.
These transactions led many speculators to believe that Binance may be selling their BTC holdings. Even though these transactions could be attributed to internal adjustments of Binance’s cold wallet. A lot of members of the crypto community expressed this line of reasoning for internal adjustments. According to further on-chain inspection, it is likely that the Binance cold wallet was internally adjusted to a new address, and the new address did not transfer out after receiving funds.However, things took a turn for the worse when Bitcoin transactions on the Binance exchange stopped working. Specifically, temporary withdrawals of BTC were shut down on the Binance exchange.
For Context, a DDOS attack occurs when an attacker floods the network with a large volume of requests or traffic, overwhelming the network’s capacity and making it difficult for transactions to get through.A coordinated DDOS attack has sent bitcoin fees soaring to $8 per transaction making it impossible for most sat stackers to afford to use the network
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