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You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-unmoved-by-chinas-278-billion-market-stimulus" rel="noopener noreferrer nofollow">Bitcoin Unmoved by China’s $278 Billion Market Stimulus</a> 
In response to Beijing’s ambitious plan to revitalize China’s domestic stock market with a $278 billion injection, the Hang Seng Index in Hong Kong and the CSI 300 Index in mainland China experienced positive movements. However, <a href="https://en.bitcoinhaber.net/bir-bitcoin-kullanicisi-3-milyon-dolarlik-islem-ucreti-odedigini-iddia-ediyor" rel="noopener noreferrer nofollow">Bitcoin</a> and the cryptocurrency market remained unaffected by these developments, witnessing significant declines.
Bitcoin is currently trading below the $40,000 mark, showing a 2.3% decrease, contrasting with the rise in traditional stock indices. This discrepancy prompts an exploration of the complex dynamics at play in the financial markets.
Beijing’s strategy involves utilizing state-owned enterprise offshore accounts and local funds for stock investments through the Hong Kong stock connection and other undisclosed measures. The goal is to boost liquidity and restore confidence in the stock market, which saw significant declines last year.
While the Hang Seng Index rose by 2%, the CSI 300 Index saw a modest increase of 0.15% in response to the proposed plan. Despite these positive trends in traditional markets, Bitcoin seems to be charting its own course, influenced by factors outside China’s stock market gains.
Bitcoin’s market dynamics appear more sensitive to inflows into exchange-traded funds (ETFs) and significant outflows from the Grayscale Bitcoin Trust (GBTC). Additionally, analysts are closely monitoring the People’s Bank of China’s efforts to support the yuan against the backdrop of a declining stock market and a strengthening dollar. The inverse correlation between Bitcoin and USD adds complexity to price movements.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-unmoved-by-chinas-278-billion-market-stimulus" rel="noopener noreferrer nofollow">Bitcoin Unmoved by China’s $278 Billion Market Stimulus</a></h5>

Bitcoin Unmoved by China’s $278 Billion Market Stimulus

BH NEWS

Други статии, публикувани на 23.01.2024 г.

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