Bitcoin

China has maintained a strict anti-crypto stance since 2021, and while this specific event is unrelated, any regulatory activity in China is closely watched by crypto investors as a potential signal of broader policy direction. The market is currently in a greed phase (Fear & Greed 73) with BTC up 21.6% over the past week, so investors are more focused on momentum than on isolated regulatory news from non-crypto sectors.

China is investigating the use of formaldehyde to preserve cabbages, a practice that is prohibited in the country.