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On Friday, July 9, bitcoin (EXANTE: Bitcoin) is falling down below the $33,000 mark. As of press time, the largest cryptocurrency by market capitalization is trading at $32,872.07 (+1.22%), according to Nomics.

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Bitcoin Falls Below $33,000

Ether is down by 2.88% to $2,118, while binance coin (BNB) is losing 1.11% at the $309 mark.

FxPro's team of analysts says that at this stage, this is a good scenario for bitcoin, as investors are "still laying the chance for favorable conditions for it to rebound." Bitcoin's slippage follows the recent statement made by Deputy Governor at People's Bank of China (PBoC) Fan Yifei. According to him, cryptocurrencies like bitcoin and stablecoins pose threat to China's financial stability.

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