Jens Eskelund, president of the European Union Chamber of Commerce in China, told Bloomberg's The China Snow that the chamber's latest survey shows an 'inflection point' in business confidence among European firms operating in the country. The statement arrives as global risk assets remain under intense pressure — Bitcoin is down 6.22% in the past 24 hours to $66,276, and the Fear & Greed Index sits at 11, deep in Extreme Fear territory.
Market Data Snapshot: Bitcoin $66,276 (-6.22% 24h), market cap $1.33T. Fear & Greed Index 11 (Extreme Fear). On-chain signals show bearish pressure and selling volume is elevated. Altcoins are trailing, with Ethereum down 7.91% over the same period.
The state of EU business confidence in China
Eskelund didn't release specific numbers from the survey during the interview, but his choice of words — 'inflection point' — suggests European executives see a potential bottom forming in China's economic environment. The chamber's full survey is expected to be published in the coming weeks. China's prolonged slowdown has weighed on global trade and investment flows, and any shift in sentiment among multinationals could have knock-on effects for broader risk appetite.
📊 Market Data Snapshot
China's economic trajectory has been a persistent headwind for risk assets throughout 2025 and early 2026. A sustained improvement in business confidence would remove one major uncertainty that has kept traders cautious. But the survey is anecdotal and lacks hard data — industrial production or PMI releases will matter more. Right now, the crypto market is dominated by selling pressure and extreme fear, so a single statement from a trade body is unlikely to reverse the trend on its own.
It's a marginal positive, but in a market this fearful, even a small catalyst can trigger a short-lived relief bounce. Whether that move holds depends on follow-through from actual economic data.
What traders are watching next
The immediate focus remains on Bitcoin's ability to hold the $64,000 support level. A break below that could accelerate losses toward $60,000. On the upside, the inflection point news might provide a floor, but traders will need to see concrete improvement in China's macro data — like a rising PMI or stimulus announcements — before committing to a bullish position. The EU Chamber's full report, once released, will give a clearer picture of whether this is a genuine turning point or just a temporary sentiment blip.
