Digital assets reached highs not seen since May, before cooling off slightly following last week’s rapid growth

Digital assets bounced back strongly from the declines of the last fortnight, posting double-digit growth across almost all major assets—led by Bitcoin

Digital assets declined slightly this week, following news on Friday of a full national crackdown on digital asset mining and trading in China, although there was some recovery alongside news that Chinese traders continued to buy and sell Bitcoin after the announcement

The digital asset market experienced a significant pullback this week, erasing several weeks of growth. This decline echoed drops in wider financial markets, with concerns of possible exposure to Chinese commercial papers as backing assets in stablecoin reserves

Digital assets spent the majority of the week gradually recovering from last Tuesday’s slump, with all major assets posting weekly gains

Market momentum stalled across the digital assets market this week, as growth across the weekend and early week was counteracted by mass sell-offs on Tuesday that created a significant pullback in value