Recent moves in risk assets like Eth and BTC have been nearly 1:1 correlation with offshore Chinese Yuan strength.
A new narrative is building where the west is in a credit contraction period while China is credit growing. This is due to more stringent credit policies after recent small bank failures in the US.
Given BTC and ETH deep correlation with liquidity, it's no surprise it's following a potentially growingly more liquid asset.
A new narrative is building where the west is in a credit contraction period while China is credit growing. This is due to more stringent credit policies after recent small bank failures in the US.
Given BTC and ETH deep correlation with liquidity, it's no surprise it's following a potentially growingly more liquid asset.