Bitcoin Drops Below $33,000 As China Continues Crypto Mining Crackdown.<br />On June 21, Bitcoin fell below $33,000 for the first time since June 8 following reports that more bitcoin mines were shuttered on Sunday in Sichuan.<br />According to 'Global Times,' a Communist Party-backed newspaper, over 90% of China's bitcoin mining operations have been shut down.<br />China's central bank has also summoned payments service Alipay and other major banks in an attempt to get them to crack down on crypto trading.<br />Last month, China banned <br />financial institutions from <br />providing services related <br />to cryptocurrency.<br />All of these measures are due to growing concerns about the potential environmental harm of bitcoin, which requires significant processing power.<br />The Bitcoin Mincing Council and the Crypto Climate Accord <br />have been launched by concerned parties attempting <br />to mitigate crypto's carbon footprint.<br />According to CNBC, close to 65% of global <br />bitcoin mining is done in China
