Bitcoin Trades at $5K Discount on Binance Australia as Fiat Services Halt

Bitcoin is trading at a significant discount on Binance Australia, with prices down by as much as 21% against the Australian dollar. Traders are rushing to cash out their crypto holdings before AUD bank withdrawals close on June 1. Binance Australia suspended its Australian dollar services due to a decision by its third-party payments provider. Without the ability to deposit AUD and high premiums for converting other crypto assets into AUD, it may be difficult for users to take advantage of the discounted Bitcoin. Binance is searching for an alternative provider to continue offering AUD deposits and withdrawals.