CoinLoan Weekly: China Widens Crackdown on Crypto

From July 5 to July 7, the BTC price fluctuated between $34,857 and $33,534. On Thursday, July 8, it started to drop rapidly, reaching a new month low ($32,310). On July 10, the price began to stabilize in the range between $34,523 and $33,155. At the time of writing, the BTC price is $33,707, with current market dominance at 45.29%, according to Coinmarketcap.

Ethereum followed a different pattern last week. Its volatility level was not as high as BTC's. Still, ETH ended the week with a downward trend despite being relatively stable on Monday, July 5, fluctuating between $2,165 to $2,396. At the time of writing, ETH price is $2,110.80, and its market dominance is at 17.61%.

The current crypto prices are the result of China's ongoing crackdown on crypto. The country imposed a ban on cryptocurrency purchase and sale and later ordered to shut down all mining operations.