Bitcoin Dips on $13B China Shock as JPM Coin Drives Institutional Boom
Bitcoin continued its slide on Wednesday, missing out on the general optimism that's been driving up risk appetites. It had been...
Quick overview
- Bitcoin's price fell below $100,000 in early November, despite a general market rally.
- Investors remain cautious about cryptocurrencies due to ongoing regulatory uncertainties.
- The US government's potential reopening has boosted equities, but crypto markets remain subdued.
- China has accused the US of stealing $13 billion in Bitcoin, adding to tensions in the crypto market.
Bitcoin continued its slide on Wednesday, missing out on the general optimism that’s been driving up risk appetites. It had been a rough few weeks for the largest cryptocurrency – after plummeting in early November, it even dipped below the $100,000 mark for a brief period. While the rest of the market was rallying on news that the US Govt is finally close to reopening, investors didn’t seem that interested in buying up digital assets.
Experts point to lingering skepticism over Bitcoin treasury companies and the general uncertainty over how they’ll be regulated as the main reasons why cryptocurrencies just can’t seem to catch up with the rest of the market. Even with renewed confidence in the marketplace, buying momentum in crypto just won’t seem to pick up speed
- Bitcoin’s price plummeted to below $100,000 in early November.
- Equities are soaring – but crypto’s not getting the same love in a risk-on market.
- Investors are still cautious due to the ongoing uncertainty over regulation.
🇨🇳 CHINA JUST ACCUSED THE US OF STEALING $13 BILLION WORTH OF #BITCOIN FROM A CHINESE MINING POOL
THE RACE TO ACQUIRE BTC IS ON 🚀 pic.twitter.com/vth5xUmCN2
— Vivek Sen (@Vivek4real_) November 11, 2025
The US Govt Re-Opening Gives Equities A Boost
It’s been a 42-day wait, but the US government is one step closer to ending its 42-day government shutdown. On Monday, the Senate approved a bill that extends government operations until January 30 – now all they need is the House’s approval. President Trump is expected to sign it into law.
That all this is likely to happen has lifted the sails for risk-taking investors, who are now expecting a bit more stability from the US economy. But the news didn’t have any impact on the cryptocurrency markets, which are still struggling with deep-seated doubts about how reliable crypto is.
- Shutdown duration: 42 days as of Tuesday
- Funding extension: until January 30
- Equities saw immediate gains; crypto remained subdued
China Accuses US of Stealing $13B in Bitcoin
China’s cybersecurity agency is now accusing the US government of hacking into the LuBian mining pool back in December 2020 and making off with a whopping $13 billion worth of Bitcoin. The heist allegedly involved 127,272 Bitcoins and is described as a “state-level operation”. It’s all adding to the existing tension in the already volatile crypto market.
Meanwhile, JPMorgan Chase has started rolling out its new JPM Coin service to institutional clients—this lets them use a blockchain to make secure transfers through Coinbase’s Base network. It’s part of a growing trend of institutions becoming increasingly involved with digital assets.
- They’re accusing the US govt of having $13 billion in Bitcoin nicked from the LuBian mining pool—127,272 BTC worth.
- JPM Coins is all about making blockchain-based transfers easier & safer for big institutions.
- It’s all part of the growing trend of Wall Street looking closer at crypto.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Save