Bitcoin, Asian Equities May Be Losing Capital to China Stocks

Even with a 3-5% cost to convert [stablecoin] USDT into equities, the potential upside of 50-70% in China's stocks makes this a strategic move, one observer said.

1_ Since late September, BTC has held largely flat amid the stimulus-led 20% surge in the Chinese stocks.

2_The rebound in the battered Chinese equities could be sucking out capital from crypto and Asian equity markets.

3_The capital rotation may be short-lived.China's battered stock market has experienced a resurgence since late September powered by the barrage of stimulus by Beijing.