“Li Bo, deputy governor of the Central Bank of China, said that crypto assets such as Bitcoin should be used as investment tools or alternative investments. This is the first time that the Chinese government has recognized the asset value of cryptocurrencies.”
and Bitcoin Hashrate Correction Caused BTC Price Crash
"Popular market analyst Willy Woo shares that the Bitcoin hashrate and its price has been always correlated. And thus, following the blackout in Xinjiang, today’s price action followed the collapse in the BTC hashrate. Buying Opportunity for Bitcoin Investors Sharing the latest data from Glassnode, Willy Woo reports that the hashrate has been fully recovered on a 6h MA. Thus, this dip could present a major buying opportunity who have been waiting to get into Bitcoin."
If an investment company has 10 stocks with 10% invested in each stock when one stock then rises so much that it becomes say 80% of the value of their portfolio they have to take their profits to balance the portfolio otherwise it becomes heavily weighted to one stock. They then reinvest in other stocks in an effort to repeat their success.