$BTC $ETH $BNB
🧐 China's central bank cuts reserve requirement ratio and interest rates
『Crypto』
No waves
No fluctuations
On September 24, Rick Maeda, a research analyst at Presto Research in Singapore, said that the People's Bank of China cut reserve requirement ratio and interest rates on that day, but this move hardly triggered a response in the cryptocurrency market, but it prompted Asian stock markets to rise, with Hong Kong's Hang Seng Index up 3.2% and the Shanghai Composite Index up 4.15%. Bitcoin did not react to the news, which was in stark contrast to the rise in Chinese stock indices, highlighting that Bitcoin's beta value currently seems to be more closely linked to the Fed's policy and the US market, especially after last week's FOMC meeting, its correlation with US stocks is close to a two-year high.