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Market Wrap: Bitcoin Stabilizes After China Crypto Ban Sell-Off; Volatility to Remain Elevated

September 25, 2021
Source: newsbinding.com newsbinding.com
News Snapshot:
[Crypto currency] Market Wrap: Bitcoin Stabilizes After China Crypto Ban Sell-Off; Volatility to Remain Elevated Bitcoin is stabilizing above the $40,000 support level after China’s [latest crypto ban](//www.coindesk.com/policy/2021/09/24/chinas-latest-crypto-ban-is-its-most-severe-insiders-say/) triggered immediate selling. BTC is down about 11% over the past week, compared to a 15% decline in ether over the same period. Analysts expect volatility to remain elevated given the regulatory headwinds. Exchange tokens, especially those with a large share of Chinese users, also sold off on Friday. Huobi’s token was down about 23% over the past 24 hours and the token of FTX was down 12% over the same period....
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