Bitcoin Plummets as Binance Halts Withdrawals Due to Congestion

Bitcoin and Ether prices are down due to BRC-20 meme coins congestion, with Binance suspending withdrawals twice over the weekend. The congestion is causing chaos on the Bitcoin network, with some blaming meme coins, but others saying they should not be conflated with altcoins like Ethereum or Solana. Paul Eisma, head of trading for XBTO Group, said that Bitcoin's decline and congestion are "growing pains" and that the path for Bitcoin is not straight. He also said that crypto is still in its formative years and subject to the same headwinds that have afflicted other early-stage technologies throughout history.