Market Update
Analysts say Bitcoin’s recent weekend pump to $95,000 is eerily similar to the “Xi pump” in 2019.
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China Crypto News
China, a global economic powerhouse with the world’s largest population, drives significant global trade marked by rapid industrialization and economic growth. China once served as a center for crypto trading and had a vibrant ecosystem of exchanges. However, in 2017, the Chinese government outlawed domestic cryptocurrency exchanges and initial coin offerings (ICOs) because of concerns about financial stability.
China intensified its regulations in 2021 by focusing on crypto mining — once a massive industry in the nation — citing concerns about speculative risk, financial stability and energy usage. Despite its hardline stance on cryptocurrencies, China is actively pursuing blockchain technology adoption across various sectors, including finance, supply chain and urban planning.
Blockchain parks and incubators have been established in various provinces and towns to aid new businesses and established firms specializing in blockchain technology. With its Digital Currency Electronic Payment system — a state-backed digital currency managed by the People’s Bank of China — China is at the forefront of central bank digital currency development. China wants to internationalize its currency and lessen reliance on the United States dollar in international trade and finance, and its CBDC, the digital yuan, is a component of that effort.
- Market Analysis
Favorable macroeconomic conditions and the potential of a US strategic crypto reserve launch could help Bitcoin flip $90,000 to support.
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Global trade concerns continue pressuring investor sentiment, risking a potential Bitcoin correction below the key $75,000 support level.
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Hong Kong’s Cyberport expands AI and Web3 research with $125 million in funding, boosting blockchain development and AI talent programs.
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Bitcoin fell below $90,000 for the first time since November 2024 as ETF outflows continued, crypto liquidations surpassed $1.3 billion and US-China trade tensions weighed on investor sentiment.
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US Bitcoin ETFs saw $1.14 billion in outflows over two weeks, the largest since their launch, as trade tensions and monetary policy concerns weighed on investor sentiment.
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Bitcoin price staged a recovery this week, but data shows traders reducing their appetite for risk.
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Bybit CEO Ben Zhou challenged Pi Network to prove its legitimacy by addressing a Chinese report that called the project a “scam” targeting elderly people.
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The five-pillar ASPIRe strategy aims to tackle liquidity fragmentation, regulatory arbitrage and market volatility while fostering blockchain innovation.
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The US Senate confirmed former Cantor Fitzgerald CEO and crypto advocate Howard Lutnik as President Donald Trump’s commerce secretary.
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A Chinese programmer sent about $6.8 million in ETH to burn addresses and donations, claiming corporations were using mind-control technology to enslave people.
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A Chinese programmer who sent 711.5 Ether to WikiLeaks included a bizarre onchain message about his country’s military in the transfer.
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HashKey, a licensed crypto exchange in Hong Kong, secured a $30 million investment from China-based VC firm Gaorong Ventures at a $1.5 billion valuation.
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Publicly traded mining companies in the US are now feeling the effects of trade tensions between the United States and China.
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Six men kidnapped a family of three and a nanny at gunpoint in Chicago before whisking them away for five days, demanding they cough up $15 million in cryptocurrencies.
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