Binance resumed withdrawals on Tuesday after a brief outage that the platform attributed to technical difficulties, giving traders a quick respite after a period of tension in cryptocurrency markets.
The platform first announced the issue in a post on Platform X, telling users: “We are aware of some technical difficulties affecting withdrawals on the platform. Our team is already working to resolve the issue and services will resume as soon as possible.”
Later reports indicated that Binance restarted withdrawals after resolving the issue, with the outage lasting around 20 minutes.
We are aware of some technical difficulties affecting withdrawals on the platform. Our team is already working on a fix and services will resume as soon as possible.
We appreciate your patience and will keep you posted! pic.twitter.com/382Ua4naCN– Binance (@binance) February 3, 2026
Wave of liquidations highlights fragile market sentiment
This comes after a rough patch for cryptocurrencies, with the price of Bitcoin falling below $76,000 over the weekend.
Data from CoinGlass showed liquidations of $2.56 billion as digital assets fell alongside stocks and metals amid a broader decline in risks.
Although far smaller than the $19 billion in liquidations that followed President Donald Trump’s decision to impose tariffs on China, the episode once again demonstrated how quickly debt can disintegrate when sentiment changes.
Binance did not release a detailed explanation on the cause of the outage, leaving users to focus on the practical outcome of resuming withdrawals once the platform stabilizes.
Binance Reserve Movements Increase Market Oversight
The outage occurred at a time when traders treated operational updates from major platforms as market signals, especially after sharp swings in risk appetite between cryptocurrencies and other assets.
Separately, Binance has also been in the spotlight for its safe asset fund transfer for users, after reports that the exchange executed an initial $100 million Bitcoin purchase as part of a planned $1 billion transfer.
This context has kept the focus on liquidity and platform infrastructure, even when an incident is resolved quickly, as rapidly changing markets tend to amplify concerns about access to funds and execution.
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