Transacting with it is one thing, withdrawing into fiat is quite another. Let's not pretend that most people holding BTC are holding it to buy goods and services rather than as a speculative vehicle.
Sure. many of those speculators will be forced to wait for Binance to resume BTC orders, or use another centralized exchange, or use a bridge to swap BTC to another crypto asset..
Edit: swapping BTC needs a centralized bridge as child commenter notes
Unfortunately there is no decentralized exchange for BTC. There is no smart contracts on BTC so you have to somehow bridge it to something like Ethereum before you can swap it. And to bridge it you have to rely on some centralized party, such as WBTC. (I know renBTC but it's unclear who their validators are so I'd just assume it's centralized)
Not true, BTC does have smart contracts. They called it op-code and most people don't use it anymore, but me and my friends built a poker game and we play every Thursday.
The original wallet download also had a poker game, but they decided to take it out after a while to ensure btc wasn't labeled as "Gambling"
