Celsius investors unlikely to provide more funds to bailout lender. Bitcoin below 200W MA

The Wall Street journal is reporting that Celcius Network investors are NOT likely to provide more funds to bail out the crypto lender. Last year a private equity firm along with a Canadian pension fund invested $750 million and Celsius valuing the crypto startup at more than $3 billion. They are not looking to invest anymore with one saying:

• “Few are feeling OK about things,”
• “There was more risk in this than fully appreciated,”

Recall from over the weekend, Celsius Network shut down redemptions from its crypto lending facility. The company takes various crypto currency deposits and lends them to other users to earn a "risk free" return. The risk is in the payments from those who the cryptocurrencies were lent. Despite the $750 million infusion of capital, the company is having trouble meeting its obligations from customer redemptions.

That is trouble.

Looking at the weekly chart of bitcoin Bitcoin Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Bitcoin is the largest and world’s first digital currency launched back in 2009 by the entity, Satoshi Nakamoto. Being a digital currency, a defining feature of Bitcoin is that it functions without a central bank or single administrator. Rather, Bitcoin instead can be sent by peer-to-peer (P2P) networking, which is itself absent of any intermediaries.Instead of being a physical currency, Bitcoins represent pieces of digital code that can be sent and received across a kind of distributed ledger n Read this Term, like the NASDAQ NASDAQ The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass The Nasdaq Stock Market or NASDAQ is an American stock exchange. It trails only the New York Stock Exchange (NYSE) in market capitalization and is part of a network of stock markets and options exchanges.Launched back in 1971, NASDAQ is the acronym for the National Association of Securities Dealers Automated Quotations. Since then it is known simply as NASDAQ and has become one of the most influential exchanges worldwide.The NASDAQ was the world’s first electronic stock market, and has since ass Read this Term index, it is trading below its 200 week moving average at 22357.95. The current price is trading at $21,151. That's down $580 or -2.67% on the day.

The last time the price traded below its 200 week moving average is back during the weeks of March 9 and March 16, 2020 at the start of the Covid pandemic/lockdown. However a week later, the price was back above the key 200 week MA level. That ultimately led to an incredible 1692% gain to the November 2021 highs.

Since then, the price has seen a 69.3% haircut from the high. The move down has moved $47830 from the high to near the current level. All HODL traders who got in Bitcoin in December 2020, are now in the red.