📉China's interest rate cut stimulus measures are released, but Bitcoin is a little calm!
Yesterday, Pan Gongsheng, governor of the People's Bank of China, announced that he would cut interest rates by another 50 basis points and reduce the down payment ratio for home purchases to 15% in order to stimulate the real estate market. This means that if you want to buy a house worth 1 million today, you only need to pay a down payment of 150,000 to get a loan to buy it.
These measures sound like a shot of stimulant to the market, but Bitcoin's price barely fluctuated within a few hours of the announcement of the interest rate cut policy, and was basically in a sideways state.
Although Bitcoin and mainstream cryptocurrencies were calm, China's stock market ushered in a wave of gains. Hong Kong's Hang Seng Index rose 3.2% and the Shanghai Composite Index rose 2.3%.
However, some overseas analysts believe that Bitcoin's price trend may be more linked to the Fed's policies and will not be affected by changes in China's financial policies.
🧐 So, do you think this reaction of Bitcoin is temporary, or does it mean that the cryptocurrency market is decoupling from global macroeconomic policies?
💬 What signals does this reaction of Bitcoin reveal? Is the cryptocurrency market becoming more independent, or are investors not sensitive enough to China's measures? See the comments section!
