Interesting observation about Gold and CNH. If that’s the case, then is it possible that BTC wild move (above $70k) can also be explained. And there has always been speculation that wealthy Chinese buy BTC via other means (as crypto is banned in China) to launder money.
I first heard about a possible incoming Chinese deval on 3/4 and that was when that big ramp in BTC happened. The recent media reports indicate that Chinese are full steam ahead on industrial production stimulus; Yuan weakness seems synergistic and could be primary reason.
Interesting observation about Gold and CNH. If that’s the case, then is it possible that BTC wild move (above $70k) can also be explained. And there has always been speculation that wealthy Chinese buy BTC via other means (as crypto is banned in China) to launder money.
"Oct’22 yentervention highs of 159.96" typo? 151.96?
I first heard about a possible incoming Chinese deval on 3/4 and that was when that big ramp in BTC happened. The recent media reports indicate that Chinese are full steam ahead on industrial production stimulus; Yuan weakness seems synergistic and could be primary reason.