‘Ignore China At Your Peril’: Ben Zhou Flags Yuan Devaluation’s BTC Impact
- The ongoing tariff war may trigger Chinese capital flight into Bitcoin.
- Bybit CEO Ben Zhou cites yuan devaluation as a BTC bullish signal.
- Short-term USD strength may mask long-term dollar weakness.
While Bitcoin rebounded toward $80,000 after Monday’s tariff-driven dip near $74,000, Bybit co-founder and CEO Ben Zhou suggested the real catalyst for the next major surge might come from China, echoing recent analysis from Arthur Hayes.
Zhou highlighted the potential devaluation of the Chinese Yuan (RMB) by the People’s Bank of China (PBOC) as a primary factor to watch.
Chinese Yuan Devaluation Spotlighted
He argued a sharp RMB depreciation, potentially used to counter U.S. tariffs and maintain export competitiveness, has historically triggered significant capital flight into Bitcoin. He warned traders, “Ignore China at your own peril,” reinforcing Bitcoin’s role as a global hedge asset.
China Capital Flight Fueled Past Bitcoin Rallies
This isn’t just theory, Zhou noted, pointing to past cycles. In 2013, 2015 (when the PBOC devalued the Yuan against the dollar), and 2017 (following capital outflow crackdowns), Chinese investors reportedly sought…
The post ‘Ignore China At Your Peril’: Ben Zhou Flags Yuan Devaluation’s BTC Impact appeared first on Coin Edition.
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Tariff Time Again: What New US tariffs on China Mean for Your Crypto
‘Ignore China At Your Peril’: Ben Zhou Flags Yuan Devaluation’s BTC Impact
- The ongoing tariff war may trigger Chinese capital flight into Bitcoin.
- Bybit CEO Ben Zhou cites yuan devaluation as a BTC bullish signal.
- Short-term USD strength may mask long-term dollar weakness.
While Bitcoin rebounded toward $80,000 after Monday’s tariff-driven dip near $74,000, Bybit co-founder and CEO Ben Zhou suggested the real catalyst for the next major surge might come from China, echoing recent analysis from Arthur Hayes.
Zhou highlighted the potential devaluation of the Chinese Yuan (RMB) by the People’s Bank of China (PBOC) as a primary factor to watch.
Chinese Yuan Devaluation Spotlighted
He argued a sharp RMB depreciation, potentially used to counter U.S. tariffs and maintain export competitiveness, has historically triggered significant capital flight into Bitcoin. He warned traders, “Ignore China at your own peril,” reinforcing Bitcoin’s role as a global hedge asset.
China Capital Flight Fueled Past Bitcoin Rallies
This isn’t just theory, Zhou noted, pointing to past cycles. In 2013, 2015 (when the PBOC devalued the Yuan against the dollar), and 2017 (following capital outflow crackdowns), Chinese investors reportedly sought…
The post ‘Ignore China At Your Peril’: Ben Zhou Flags Yuan Devaluation’s BTC Impact appeared first on Coin Edition.
Read More
Here’s How Bitcoin Price Reacted to the $1.26B Babylon Unstaking Event