Around the same time, China’s ruling Communist Party’s 24-member Politburo — its top decision-making body, led by President Xi Jinping – said the country’s economy is facing new difficulties and the economic recovery will be challenging. Early this year, analysts widely cited China’s reopening of its economy as a major bullish tailwind for risk assets, including cryptocurrencies.
BTC Drops to $29K as WSJ Ratchets Up Binance Issues, China Warns of ‘Torturous Recovery
