May 31, 2025

China has officially banned all crypto trading and mining, including BTC and ETH

🔻 Market Reaction

BTC dropped from $111K to <$104K

ETH$ETH , XRP$, $SOL DOGE, PEPE $SOL — all saw double-digit losses

Total market cap fell to $3.3T

$750M+ in longs liquidated

⚠️ Why the Ban?

1. Energy: BTC mining = high power use

2. Control: Crypto challenges Beijing’s financial system

3. Crackdown: Targeting illegal flow

4. CBDC: Pushing Digital Yuan, cutting out rival

🌍 Global Impact

Panic selling in Asia

BTC hashrate dropped temporarily

Other nations may tighten rules

Volatility up — expect swing

🗣️ Experts Say:

Some see a healthy reset

Others warn of adoption slowdown

Decentralization supporters say: This proves why crypto matters

➡️ Full story in the art

icle.

#CryptoBan #Bitcoin #ChinaNews #CryptoUpdate