Bitcoin

This event fits into a larger pattern of China gradually regaining economic confidence after a brief geopolitical shock in March. If sustained, it may dampen the narrative of crypto as a hedge against yuan depreciation, but it also aligns with global risk-on shifts if China's recovery boosts commodity demand and emerging market sentiment.

China's cross-border inflow resumed in April following a reversal in March, reinforcing confidence in the economy and an appreciating yuan.

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Mainstream media may frame this as a US-China tension signal, but in reality, it's a low-significance comment from a former president, not current policy. For crypto, the dominant driver remains macro fear (rate expectations, liquidity) and on-chain neutral signals. Such noise is quickly discounted.

Trump stated he would raise the case of Jimmy Lai with the Chinese president but compared it to the Comey situation.