Bitcoin crashes to $61,000 as China's stimulus plan disappoints... down more than 2%

US stock markets rallied on the back of a drop in global crude oil prices, but Bitcoin fell more than 2% as China's economic stimulus measures fell short of market expectations.
As of 10 a.m. on the 10th, Bitcoin had risen by 2.5% from 24 hours earlier on CoinMarketCap, a global coin market relay site.
It recorded a 0.75% drop to $60,398 (approximately 9 million yen). This is the first time since the 4th that Bitcoin has collapsed from $61,000 (approximately 9.09 million yen). This is due to China's economic stimulus measures.
The announcement of the new stock price is believed to have disappointed the market. As China's economic stimulus measures fell short of market expectations, the Shanghai Composite Index fell 6.6% and the Shenzhen Index fell 8.7% the previous day.
, and all of them fell sharply at the same time. Bitcoin is also thought to have been affected by this. China strictly prohibits investment in cryptocurrencies, but Chinese investors are circumventing the authorities' ban and investing in them overseas.
He is said to be investing in Bitcoin on foreign exchanges.