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