China rumors run very heavily.
this proves the value of bitcoin price is weakening, just as it does in stock market.
I do not know this will end when. which obviously makes many people panic.
At this point, I think these rumors are not the biggest problem anymore. People know that Bitcoin is resistant to such things.
I think this drop is the result of a misinterpretation that Bitcoin is in a bubble, when they can't see how Bitcoin evolved in the past few years, and they can't see where it can go...