China halts IPOs as AI stock rout erases $480 billion

Crypto Insight Summary: Following a sharp fall in AI and chip stocks that has wiped about $480 billion off the STAR 50 index, China has reportedly stopped approving new share listings to calm its falling stock market. Everyday investors who bought into the two-year rally are feeling the pain, and global markets are watching to see if U.S.... Crypto Insight Analysis: Direction: Bearish BTC / Bearish ETH Impact: Minor Impact Horizon: Short-term (1-3 days) Reasoning: China's equity rout and IPO freeze may trigger short-term risk-off selling across crypto markets.