Heavy! China cuts interest rates and reserve requirements. Can Bitcoin take off?

Against the backdrop of turbulent global financial markets, the cryptocurrency market has always attracted a lot of attention, with its prices fluctuating wildly. Recently, news has come out in the market that China may cut its reserve requirement ratio by 100 basis points and interest rates by 20 basis points, and plans to implement loose monetary policy in 2025. In addition, Hong Kong has again approved four cryptocurrency trading licenses. The news sparked widespread debate as to whether China's series of measures could push the price of Bitcoin (BTC) to surge again.

China occupies a pivotal position in the global economic system, and its influence on the cryptocurrency market is equally significant. Looking back at history, cryptocurrencies had a glorious period in China. Around 2017, China once became the center of global Bitcoin mining, with about 70% of the world’s Bitcoin computing power concentrated in China. This data fully demonstrates China’s huge investment and leading position in the construction and operation of Bitcoin infrastructure. At that time, a large number of mining farms emerged in remote areas of China, driving the development of hardware equipment manufacturing, power supply and other related industrial chains.

In addition, a popular concept on the Ethereum chain-Musk-themed puppy

ṗüṗṗïëṡ is gradually receiving attention and has huge potential for future development. It may have the opportunity to become the next high-profile phenomenon-level crypto asset like SHIB, which deserves close attention and in-depth research by investors. #“圣诞老人行情”再现 #比特币战略储备 #比特币市场波动观察 #币安LaunchpoolBIO #BinanceLabs投资Usual $BTC $DOGE $SHIB