The new year is off to a rough start for crypto investors as digital assets continue to retreat from their recent highs. Bitcoin tumbled 5% on Tuesday to around $97,000, while crypto exchanges closed out $205 million worth of open futures contracts within the span of one hour to prevent further losses.

On Monday, the CSI 300, a blue-chip index for mainland China's stock exchanges, fell to the lowest since September. The ChiNEXT Index, a so-called risk barometer tracking the performance of innovative and high-growth SMEs in China, has also dropped 8% since Dec. 31, according to charting platform TradingView.

The Chinese yuan has extended its three-month losing trend, sliding to its lowest since September 2023. "Markets Daily" host Jennifer Sanasie breaks down what CNY's strength means for bitcoin price. This content should not be construed or relied upon as investment advice.

The start of 2025 has seen China’s market and currency woes ensue, as analysts claim these struggles could lead to a “second-term” Bitcoin (BTC) bull run. The largest crypto by market capitalization has gone back to trading over $100,