Bitcoin traded sideways on Tuesday as market participants digested the latest regulatory crackdown from China. On Monday, the People’s Bank of China (PBOC) reiterated its long-held anti-crypto stance, warning institutions against providing services to crypto-related companies.
China’s announcement preceded choppy price moves around $34,000, which left traders with little sense of direction. Bitcoin trading remains in a tight range and the price is down about 6% over the past week.
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