Still, we advocate caution,” QCP continued. “Our desk continues to observe topside selling in May and June, suggesting that market makers are using the rally as an opportunity to offload unwanted positions.”Bitcoin to get “meaningful slice” of yuan outflowsOthers noted potential tailwinds for Bitcoin in the form of Chinese yuan devaluation as a stopgap measure in the trade dispute.
China was a clear exception to the policy, however, with Trump doubling down on tariffs while alleviating pressure on other countries. For QCP, now is the time not for relief, but to brace for China’s next move.“With China singled out so explicitly, market participants are bracing for Beijing's counterpunch,” it explained. “Should retaliation materialise in force, the exuberant rally could quickly morph into a classic bull trap.”BTC/USD 1-hour chart.
Luckily $BTC loves money printing and associated ccy weakness.pic.twitter.com/RcVkSj54O3— Arthur Hayes (@CryptoHayes) April 10, 2025“China beginning currency devaluation is more than just an economic signal—it's a trigger,” Sina, co-founder of asset management firm 21st Capital, told X followers in part of a post on the topic. “Historically, when the yuan weakens, capital doesn’t stay put.It escapes.
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Author / Journalist: Cointelegraph by William Suberg
The story "Crypto trading firm warns of 'classic bull trap' as Bitcoin tags $82.7K" has 555 words across 25 sentences, which will take approximately 3 - 5 minutes for the average person to read.
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