Could decline in Chinese stocks redirect capital back to Bitcoin, crypto trading?

Chinese stocks’ rally has tapered after a disappointing stimulus package, raising hopes of a potential shift toSince late September, Asian stocks have rallied amid solid Chinese government stimulus packages and expectations that the policies could continue in 2024.the Chinese government to announce an extra $1.4 trillion fiscal package. However, only a $14 billion package was announced.

The report cited Tether’s USDT discount relative to the U.S dollar since late September as a crucial indicator. “If the traders are rushing to exchange back into fiat currency, it can be inferred that they are panic buying Chinese stocks.” According to Singapore-based crypto trading firm QCP Capital, the waning Chinese stock rally could boost BTC. The firm“As the Chinese rally wanes, we anticipate capital reallocation back into crypto, reflecting the industry’s growing maturity as an alternative risk-on asset.”

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