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…

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