🌐 Crypto enthusiasts, here's a quick update! China's central bank is stepping in to support the yuan amid its recent depreciation. The People's Bank of China will halt government bond purchases this month due to high demand. This move highlights concerns over sliding bond yields and the yuan's depreciation.

- The 10-year Chinese government bond yield fell below 1.6%, while the U.S. counterpart hit 4.7%.

- The yuan slipped to 7.32 per USD, continuing its three-month decline.

Could this lead to increased interest in Bitcoin as a hedge? Share your thoughts in the comments!