Bitcoin$BTC
has dropped to around $103,000, retreating from its recent high of $108,268. The weekly decline of 6% reflects growing uncertainty in the market, largely triggered by China's renewed crackdown on private cryptocurrency holdings. This move has rattled investors and led to widespread panic selling. The broader crypto market wasn’t spared either, shedding about $61 billion in market capitalization over the week as fear and regulatory concerns weighed heavily on sentiment.