This is the longest weekly losing streak in the history of China's benchmark index, occurring alongside a global risk-off move (total crypto market cap down 2.84% in 24h). State-backed 'national team' buying has historically been a band-aid, not a cure—each intervention has been followed by lower lows. The pattern suggests China's deflationary spiral and property crisis are worsening, which may push the PBOC toward more aggressive easing and capital controls, indirectly boosting offshore crypto demand.

China's benchmark stock index

China's benchmark stock index posted a record 10-week losing streak, prompting state-backed funds to increase their market presence.

China's Benchmark Index Posts Record 10-Week Losing Streak as State Funds Step In

China's 'National Team' buying is quietly draining offshore liquidity from crypto's favorite Asian trading corridor, setting up a stealth correlation break between BTC and Chinese equities.