ChainCatcher news, according to CoinDesk, Rick Maeda, a research analyst at Presto Research in Singapore, pointed out that today's cut in the reserve requirement ratio and interest rate by the People's Bank of China has hardly caused a reaction in the cryptocurrency market, but triggered a rise in Asian stock markets, with the Hong Kong Hang Seng Index up 3.2% and the Shanghai Composite Index up 4.15%.

Bitcoin's lack of reaction to the news, in contrast to the rise in Chinese stock indices, highlights that its current beta value seems to be more closely linked to the Fed's policies and the US market, especially after last week's FOMC meeting, and its correlation with US stocks is close to a two-year high.