• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Cryptocurrencies Rise Amid China's Fiscal Policy Expectations

user avatar

by Giorgi Kostiuk

2 years ago

Bitcoin has shown significant growth, reaching $63,000, amid expectations of updates to China's fiscal policy.

Bitcoin's Rise Amid Chinese Policy

On Friday, Bitcoin reached $63,000, marking a 7% increase after being at $59,000 on October 10th. This surge is attributed to investors' anticipation of updates to China's fiscal policy expected today.

The Situation with Other Tokens

Recent inflation reports in the U.S. had investors concerned, affecting other assets. According to reports, Solana, Avalanche, and Render tokens gained 6-8%. The Uniswap token showed a negative daily return on the CD20 index due to the platform's plans to introduce its own layer-2 network.

Impact of China's Policy on Crypto Market

Analysts from Coinbase note that China's fiscal policy could have a significant impact on the crypto market. According to their report, investors are hoping for substantial monetary support for the Chinese economy, which could influence the virtual asset market. By the time of the next briefing, markets will be closed, so traders are expected to actively respond to the scope and content of China's fiscal update.

At the time of the next briefing, the markets will be closed, so there is a high probability of traders knocking the door of the crypto market for showing their views over size and strength of the fiscal update of China.None

Expectations around China's fiscal policy continue to influence the crypto market. Year-end results could be favorable for riskier assets.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

XRP Bulls Attempt to Reverse Selloff with Technical Analysis

chest

XRP bulls are attempting to reverse a recent selloff with technical analysis indicating a potential recovery structure.

user avatarDiego Alvarez

Current Price Action of XRP Amid Market Decline

chest

Crypto analyst CasiTrades provides an update on XRP's price action, noting it is defending key support levels.

user avatarKenji Takahashi

Brad Smith's Message to Graduates: Embrace AI with Caution

chest

Brad Smith, Microsoft's vice chair and president, addresses the class of 2026, acknowledging their concerns about AI's impact on job opportunities and urging a balanced approach to innovation.

user avatarMaria Fernandez

Coinbase Unveils Coinbase for Agents, Empowering AI in Cryptocurrency Trading

chest

Coinbase has launched Coinbase for Agents, a tool that enables AI systems to trade cryptocurrencies and manage portfolios on behalf of users.

user avatarGustavo Mendoza

Bitcoin Enters Final Phase of Bear Market

chest

A crypto analyst has indicated that Bitcoin is in the final phase of its bear market, projecting further volatility and a potential price bottom.

user avatarRajesh Kumar

Hedgeye Introduces New Hedged Bitcoin ETF to Mitigate Risk

chest

Hedgeye has filed for a new Bitcoin ETF that aims to combine exposure to spot ETFs with an options overlay designed to reduce volatility and manage downside risk.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.