Currency trade is based on the market situations and news and market. Because traders always want to be safe if the market prices drop. So traders take quick action if any bad news circulates in the market. Sometimes prices fall due to this panic. The same type of bad news drops the crypto prices where it was said that a cracked down on Binance Office in Shanghai & Workers are arrested. That creates a panic in the market and prices drops.

The base of news was a notification that said “Virtual currency transactions in the territory; the other is to issue ‘xx coins’ and ‘xx’ in the form of ‘blockchain application scenarios.’ Currency, fundraising or bitcoin, virtual currency such as Ethereum; third, providing services such as publicity, diversion, agency trading, etc. for registered ICO projects, virtual currency trading platforms, etc.”

But Binance denied this news “The Binance team is a global movement consisting of people working in a decentralized manner wherever they are in the world. Binance has no fixed offices in Shanghai or China, so it makes no sense that police raided on any offices and shut them down.”

More they said “We also encourage our friends from the media to verify if their "sources" are telling the truth or presenting their own agenda.”