Bitcoin tumbles 10% as crypto crackdown in China accelerates

Tuesday, 22. June 2021 00:19

Bitcoin continued the slump, extending the day's losses and plunging more than 10% to trade under the $32,000 mark.

Chinese authorities first issued an order to crack down on cryptocurrency mining in the Sichuan province, while the country's central bank called on other lenders in China, as well as the mobile payment platform Alipay, to refrain from crypto transactions.

Bitcoin plummeted 10.18% to $32,029 at 6:17 pm ET after having fallen as low as $31,600 minutes before. At the same time, Ether sank 15.35% to trade at $1,908.57.

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Breaking the News / BU