Amid economic difficulties in China, investors are increasingly turning to Bitcoin and other cryptocurrencies as safe havens.
A recent Chainalysis report highlights significant inflows into the country’s over-the-counter (OTC) crypto brokers, with approximately $20 billion entering these platforms each quarter through June, totaling $75.4 billion for the nine-month period.
Despite a 2021 ban on cryptocurrency trading, demand remains robust. Eric Jardine from Chainalysis noted that these OTC services operate in a “gray zone” in China, where enforcement of the ban may be lax. Investors are looking to protect their wealth through cryptocurrencies as the economy falters.
The People’s Bank of China (PBoC) has responded to the situation with a stimulus plan that includes a cut in reserve requirements and interest rates, which is anticipated to bolster confidence in Bitcoin.
Following the announcement, Bitcoin’s price surged to $64,000, and analysts predict it could reach $100,000 due to the stimulus and potential crypto trade between China and Russia.
Market experts believe that recent rate cuts in China and the U.S. Federal Reserve’s own adjustments signal a bullish outlook for Bitcoin, especially as the most lucrative quarter for the cryptocurrency approaches.
Swan, a Bitcoin-focused financial firm, has issued a striking market update suggesting that the current BTC cycle isn’t just another repeat of the past—it might be the last of its kind.
Ross Ulbricht, founder of the infamous Silk Road marketplace, is back in the headlines after receiving a mysterious transfer of 300 BTC—valued at roughly $31 million.
Bitcoin could be heading for a notable dip if it fails to stay above a key price zone, according to market watcher DonAlt.
A new report from Cane Island reveals a startling truth about Bitcoin’s supply: by late 2025, over 7 million BTC could be permanently lost—more than one-third of all coins ever mined.