This is completely normal because everyone knows that the crypto market is manipulating. The Chinese government only supports blockchain technology but in addition does not support cryptocurrencies. It seems that the market is declining sharply and tends to decrease when the sellers still have not given up. The daily chart shows that bitcoin still needs to retest the critical support of $ 6k8 before the pump or dump is strong. so now we should not buy or sell because the indicators are unknown.
Bad news has greatly affected this market and China is proving that they are people who can control the value of Bitcoin at any time. I think this is really dangerous because if the government starts checking crypto transactions then investors will be very scared. Hopefully, this country will have better strategies to protect investors and this is what everyone needs in this time.