These are the movements expected from China. But the latest news was already a news story. So they put fake news on the market and bitcoin hit hard.
Another reason why it's tough for bitcoin to recover quickly, aside from Musk, China also have big impact in terms
of creating fuds like this. They manage to play with the market and investors from that part of the world are silently
inside this industry and quitely gaining, with such news those people are afraid being haunted by the government
they don't have any other option but to comply.