Budget paused means your ads aren't showing. If you reach your daily budget limit, Bing Ads pauses all your campaign's ads, putting them into budget paused status. This means all ad groups in your campaign are paused, and the ads in those ad groups are no longer displayed. Ad display will resume at the start of the next day.
Bing Ads stops all campaign activity until your campaign has budget available again. If your campaign is going into "budget paused" status more frequently than you'd like, you should consider changing your budget settings.
If you don't take action to resume the campaign in "budget paused" status, the campaign automatically restarts at the beginning of the next day. To help make sure that your ads will run throughout the day, consider using the Daily - Standard budget option.
Let's say you have a daily budget of $50. If a higher-than-expected number of clicks leads you to spend your entire budget by noon one day, Bing Ads will put that campaign on "budget paused" since you have no more money to spend that day and your ads will not show for the remainder of the day.