Arthur Hayes is Optimistic: Wave of Chinese Funds Could Lift BTC to New Levels!
Jakarta, Pintu News – With the escalating trade war tensions between the United States and China, global markets are experiencing high uncertainty. Arthur Hayes, co-founder of BitMEX, predicts that funds from China will soon flow into Bitcoin .
The price of Bitcoin (BTC) has recovered from yesterday’s drop, with the exchange rate having broken the $80,000 mark. Investors are now looking forward to the progress of trade negotiations while avoiding market volatility.
Check out the full news below!
Why China’s Money Potentially Goes into Bitcoin (BTC)
Arthur Hayes suggests that a devaluation of the Chinese yuan (CNY) could encourage capital flows into Bitcoin (BTC), repeating the trend that occurred in 2013 and 2015. The $USDCNH exchange rate is near a five-year high, and there are rumors of a possible policy change.
Hayes explained that President Xi Jinping considers the devaluation of the yuan, triggered by China’s independent monetary policy, a strategic move to maintain economic competitiveness. According to Hayes, this creates a bullish narrative for Bitcoin (BTC) as Chinese capital looks for other alternatives amid the devaluation.
Also read: Peter Schiff Challenges Michael Saylor as Bitcoin (BTC) Plummets: End of Aggressive Strategy?
Trade War Escalates, New Tariffs Announced
US President Donald Trump showed his assertiveness by planning additional 50% tariffs on imports from China, which will increase the total tariffs to 104%. This combines existing tariffs of 20% and 34% with new ones. The United States imports about $439 billion of goods from China annually.
Trump gave China until April 8 to lift their 34% tariff on US goods, warning that failure would trigger additional action. However, Chinese officials have stated they will “fight to the end” against the proposed tariffs.
Bitcoin (BTC) Price Projections Going Forward
According to Coingape’s report, according to Bitcoin (BTC)’s falling wedge pattern, the price has bounced off critical support. It is trading up 4.54% to $80,336, with daily trading volume increasing 85% to over $86 billion. Bitcoin (BTC) will likely rebound towards the critical resistance level of $85,000, where substantial selling pressure could emerge.
Renowned crypto analyst Rekt Capital also believes that a Bitcoin (BTC) bottom formation may be forming amid the current market correction. The analyst highlights the historical trend in Bitcoin’s (BTC) daily Relative Strength Index (RSI) to forecast this.
That’s the latest information about crypto news today. Get more information about crypto academy from beginner to expert level only at Pintu Academy and enrich your knowledge about the world of crypto and blockchain.
Follow us on Google News for the latest updates on crypto and blockchain technology. Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now.
Experience web trading with advanced trading tools such as pro charting, various order types, and portfolio tracker only at Pintu Pro. Click Register Pintu if you don’t have an account or click Login Pintu if you are already registered.
*Disclaimer
This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.
Reference
- Coingape. Arthur Hayes Bets Big on Chinese Money Coming to Bitcoin. Accessed on April 8, 2025
- Featured Image: China Briefing
