Crypto lending firm Celsius pauses withdrawals; Bitcoin under $25K

Trouble is hitting the cryptosphere again as risk sentiment continues to erode in the broader market. The latest catalyst came from the most recent inflated CPI reading - which showed prices rising 8.6% Y/Y in May - though the downturn quickly picked up pace across the entire sector. Bitcoin (BTC-USD) fell 9.4% early Monday to under $25,000, Ethereum (ETH-USD) slumped 10.6% to around $1,340, while Binance Coin (BNB-USD), Bitcoin Cash (BCH-USD), Cardano (ADA-USD), Solana (SOL-USD), XRP (XRP-USD) and Dogecoin (DOGE-USD) were also deep in the red. Bigger picture: Not helping the situation was an announcement from Celsius, which is one of the largest crypto lending platforms (topping $20B in assets last August). The DeFi giant just paused all withdrawals due to "extreme market conditions," as its CEL digital token (CEL-USD) went into freefall, plunging over 50% to $0.20 over the past 24 hours. Celsius is also suspending its swap and transfer products by "activating a clause in our