Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the hreflang-tags-pro domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/wp-includes/functions.php on line 6121
[www-stage.newsbtc.com/news/celsius/cel-price-surged-50-after-celsius-reopens-withdrawals-of-50m/]
[wp-includes/functions.php:6121 trigger_error(), wp-includes/functions.php:6061 wp_trigger_error(), wp-includes/l10n.php:1371 _doing_it_wrong(), wp-includes/l10n.php:1409 _load_textdomain_just_in_time(), wp-includes/l10n.php:195 get_translations_for_domain(), wp-includes/l10n.php:307 translate(), wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php:24 __(), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php:45 include_once('wp-content/plugins/hreflang-tags-for-wordpress/includes/variables.php'), wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php:40 require_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro-main.php'), wp-settings.php:545 include_once('wp-content/plugins/hreflang-tags-for-wordpress/hreflang-tags-pro.php'), wp-config.php:53 require_once('wp-settings.php'), wp-load.php:50 require_once('wp-config.php'), wp-blog-header.php:13 require_once('wp-load.php'), index.php:17 require('wp-blog-header.php')]

CEL Price Surged 50% After Celsius Reopens Withdrawals Of $50 M
NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

CEL Price Surged 50% After Celsius Reopens Withdrawals Of $50M

Kent Tenix
Kent Tenix
2 years ago
3 mins read
CEL

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Celsius announced that users could cumulatively withdraw up to $50 million from all the locked accounts. These funds are for users who own Celsius Custody Program and Withhold Accounts. This latest decision to reopen withdrawals has spiked the price of CEL by 50%. 

As of September 2, CEL’s price stood at $1.67, showing a good price shift from $1.15 per token on September 1. 

Related Reading: Lido DAO Continues With Strong Bullish Bias, How High Can Price Go?

The CELUSD chart on Tradingview.com indicates that the token has lost some of its gains this morning. It now stands at $1.50, which is still higher than yesterday’s lows and shows positive price movements.   

But the sudden increase might not be sustainable. Data shows that CEL trading volume didn’t spike with the price. Analysts see this low volume as traders’ lack of conviction in a continuing uptrend.

Imminent Price Drop For CEL Looms

The CEL four-hour chart shows that the token started painting a rising wedge since the August end. This pattern is usually a sign of an upcoming bearish price reversal. Also, CEL is testing the upper trendline for a pullback to the lower line. 

CEL latter trendline is closer to $1.34. It has been serving as a good support zone. Any break below this support might increase the selling pressure in the market. A rising wedge breakdown setup will emerge if the CEL price plummets below $1.34. 

By that, the token’s downside target would be as low as the maximum distance between the upper and lower trendline of the wedge if measured from its breakout point. The interpretation, CEL might lose 40% from September 2 price to stand at $0.87 by the end of September. 

CELUSD_
CEL’s price currently stands around $1.44. | Source: CELUSD price chart from TradingView.com

Negative Fundamentals Hanging Over Celsius 

Celsius recently requested the Bankruptcy Court to permit its CPWA clients to withdraw their funds. Celsius utilized users’ funds to operate in the broader market while promising them mouth-watering returns. 

But the firm froze the accounts when the crypto winter wrecked havoc on its balance sheet. Data showed that Celsius lost $2.85 billion due to the market crash. The loss led to locking billions of dollars in more than one million accounts on its network. 

The firm might have pushed CEL’s price up by this announcement. However, it might not sustain the price increase. According to Simon Dixon, BNKToTheFuture CEO, the total money locked by Celsius in the CPWA is worth $210 million. But the company wants to release only $50 million. 

Related Reading: Why Vitalik Buterin Expected Crypto Crash To Happen Earlier, ETH Price Battles With $1,600

Also, as of July 10, the court documents showed that Celsius Earn Accounts had up to $4.2 billion worth of assets. These factors will impede the growth of the network token. Unless the firm acts accordingly, the 50% price growth might be a waste.  

Featured image from Pixabay and chart from TradingView.com
Tweet123Share196ShareSend
Kent Tenix
Kent Tenix

Kent Tenix

Kent is a talented freelance writer and journalist who creates insightful and thought-provoking content. With over 5 years of experience, she has honed her skills and established herself as an expert in her field. Kent is especially passionate about in-depth reporting and investigative journalism. She thoroughly researches every topic and story she covers to provide readers with comprehensive information and perceptive analysis. Whether she's reporting on crypto, business, technology, or finance, Kent prioritizes accuracy, nuance, and integrity. Her goal with every piece is to inform readers and inspire meaningful conversations and positive change. Kent enjoys traveling, photography, and spending time with her family when she's not tirelessly conducting interviews or poring over data. She hopes to continue using her writing to enlighten and engage audiences on issues that matter.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

bitcoin

Bitcoin Surges With Low Retail Interest – Is A Second Wave Coming?

Recently, Bitcoin (BTC) achieved a new all-time high (ATH) of $111,980 on Binance crypto exchange, surpassing its previous ATH of...

Ash Tiwari 1 day ago
SUI

$10 Million Fix? SUI Network Moves Fast After Cetus Exploit Scare

Sui Network has rolled out a $10 million fund to boost security across its system. The move comes after the...

Christian Encila 1 day ago
XRP

$8 XRP Sounds Huge—But This Analyst Isn’t Cheering Yet

Investors betting on XRP reaching $8 before year’s end may want to take a step back, according to a well-known...

Christian Encila 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Crypto news FTX repayments

Crypto Markets Brace For $5 Billion FTX Liquidity Shock: Expert

Jake Simmons 1 day ago
Ethereum Market Outlook: Technical Indicators Signal Possible Continuation of Uptrend

Ethereum Market Outlook: Technical Indicators Signal Possible Continuation of Uptrend

Samuel Edyme 1 day ago
Bitcoin Up 15% in a Month, Analyst Cautions on MVRV Resistance Level

Bitcoin Up 15% in a Month, Analyst Cautions on MVRV Resistance Level

Samuel Edyme 1 day ago

Premium Sponsors

Top Brands

Press Releases

  • A smart choice for XRP investors to passively earn money...

    1 day ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    1 day ago
  • Bitget Lists Ripple USD (RLUSD) to Expand Stablecoin...

    1 day ago
  • Let everyone earn $10,0080 a day – CRYPTOMININGFIRM...

    1 day ago
  • Start RIPPLECOIN Mining cloud mining package through...

    1 day ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.