​​BTC: $33,143.76 (-6.62%) Bitcoin price dips to $32.5K on ' | Best Crypto Traders Official

​​BTC: $33,143.76 (-6.62%)

Bitcoin price dips to $32.5K on 'consistent' new China FUD

BTC/USD sheds $1,000 almost instantly as China's third-largest bank puts the cats amongst the pigeons in early trading.

3rd biggest Chinese bank warns on crypto

The cause, which disturbed a day of recovery from another dip, appeared to once again come from China via a major bank statement that confirmed it would not allow the use of its services for transactions related to Bitcoin or cryptocurrency.

Involved was China’s third largest bank, the Agricultural Bank of China.

"The statement emphasized that once relevant behaviors are discovered, account transactions will be immediately suspended, customer relationships will be terminated, and relevant departments will be reported," — journalist Colin Wu reported on Twitter.

The resulting volatility, while unnerving, matches behavior from previous announcements by China. The country has become the source of headaches for Bitcoin bulls in recent weeks as miners face a crackdown and officials reiterate the existing restrictions on cryptocurrency in place since 2017.