Crypto Rally Powered by ¥1 Trillion China Stimulus and Technical Breakouts in BTC
- Crypto rally gains momentum as China injects ¥1T into markets and eases key interest rates by 0.1%
- Bitcoin reclaims key Fibonacci levels as technical indicators show strength near $98K resistance zone
- Traders eye U.S.–China trade talks in Switzerland as macro tailwinds boost global risk appetite
Bitcoin trades near the $97,000 mark, up almost 3% in the past 24 hours and bouncing strongly from March lows around $74,000.
This price surge comes as significant global economic developments unfold, mainly China’s aggressive move to ease its monetary policy and rising hopes for a thaw in US-China trade tensions.
China Injects 1 Trillion Yuan, Boosting Bitcoin’s Appeal
At a high-profile press conference on May 7, People’s Bank of China (PBOC) Governor Pan Gongsheng announced a 0.5% cut in the reserve requirement ratio (RRR) and a 0.1% reduction in policy interest rates. About 1 trillion yuan (roughly $138 billion USD) into the market will be released.
Such a large liquidity injection is generally seen as bullish for Bitcoin for two main reasons. First, lower rates and easier monetary policy often weaken fiat currencies, prompting investors to seek alter…
The post Crypto Rally Powered by ¥1 Trillion China Stimulus and Technical Breakouts in BTC appeared first on Coin Edition.
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Crypto Rally Powered by ¥1 Trillion China Stimulus and Technical Breakouts in BTC
- Crypto rally gains momentum as China injects ¥1T into markets and eases key interest rates by 0.1%
- Bitcoin reclaims key Fibonacci levels as technical indicators show strength near $98K resistance zone
- Traders eye U.S.–China trade talks in Switzerland as macro tailwinds boost global risk appetite
Bitcoin trades near the $97,000 mark, up almost 3% in the past 24 hours and bouncing strongly from March lows around $74,000.
This price surge comes as significant global economic developments unfold, mainly China’s aggressive move to ease its monetary policy and rising hopes for a thaw in US-China trade tensions.
China Injects 1 Trillion Yuan, Boosting Bitcoin’s Appeal
At a high-profile press conference on May 7, People’s Bank of China (PBOC) Governor Pan Gongsheng announced a 0.5% cut in the reserve requirement ratio (RRR) and a 0.1% reduction in policy interest rates. About 1 trillion yuan (roughly $138 billion USD) into the market will be released.
Such a large liquidity injection is generally seen as bullish for Bitcoin for two main reasons. First, lower rates and easier monetary policy often weaken fiat currencies, prompting investors to seek alter…
The post Crypto Rally Powered by ¥1 Trillion China Stimulus and Technical Breakouts in BTC appeared first on Coin Edition.
Read More
Ether-Bitcoin Ratio Signals ETH is 'Extremely Undervalued,' But Headwinds Remain: CryptoQuant