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Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

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Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Bitcoin Analysts Spot Big Opportunity as China’s Yuan Hits Lowest Level Since 2023

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Bitcoin’s Failed $90,000 Attempt Hints at an Impending Price Surge Despite the Fear of a ‘Death Cross’- Will it Reach $100K

The post Bitcoin Analysts Spot Big Opportunity as China’s Yuan Hits Lowest Level Since 2023 appeared first on Coinpedia Fintech News

China has taken a surprising step by allowing its currency, the yuan, to plunge to its weakest level since 2023. This move, seen as a response to increasing U.S. trade tariff pressure, is making waves in financial markets. However, this drop in the yuan’s value could lead to something bigger—more interest in Bitcoin. 

Experts at 10x Research say a similar situation in 2015 led to a big jump in Bitcoin’s price. Could this be the start of another major rise for crypto?

China Eases Control Over the Yuan

For years, China has tightly controlled the yuan, keeping its value within a set range. However, on April 8, the People’s Bank of China (PBOC) set the yuan’s exchange rate at 7.2038 per U.S. dollar—the weakest level in months.

This move suggests that China may be allowing the currency to weaken further to keep its exports competitive, especially as U.S. tariffs continue to rise.

Tensions between the two economic giants escalated even more when former U.S. President Donald Trump issued a warning about higher tariffs on Chinese imports.

Posting on Truth Social, he stated, “If China doesn’t remove its 34% increase on trade by April 8, 2025, the U.S. will add a 50% tariff starting April 9. Additionally, we will end all talks with China regarding their requested meetings.”

Bitcoin Could Benefit from Yuan Weakness

Crypto experts believe that as the yuan weakens, Chinese investors might turn to Bitcoin as a safe haven for their money. Markus Thielen, founder of 10x Research, pointed out that a similar situation happened in 2015 when China devalued the yuan. At that time, Bitcoin initially dipped but then skyrocketed by nearly 60% within four months.

Ben Zhou, CEO of the crypto exchange Bybit, echoed this sentiment, saying that in the past, whenever the yuan dropped, large amounts of Chinese capital flowed into Bitcoin. If history repeats itself, Bitcoin could see a strong bullish trend in the coming months.

Challenges for Chinese Crypto Investors

Even though Bitcoin might get more attention, China’s strict rules make it hard for people to invest in crypto. The country has some of the toughest restrictions, and banks must now track and report any suspicious international transactions, including those with crypto.

Since August 2024, the risks of using cryptocurrency have also increased. The government is working harder to stop money from leaving the country through digital assets, which could slow down Bitcoin’s rise.

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