Bitcoin

This is a story of structural divergence: China's growth is being propped up by AI-driven exports (tech hardware, servers, chips) while domestic consumption and property remain in the doldrums. For crypto, this matters because China's export engine is a key source of global liquidity and RMB stability—both of which influence offshore crypto flows and miner economics. It also signals that Beijing's stimulus is targeted at industrial tech, not broad-based consumer stimulus, which means no 'big bang' liquidity injection for risk assets.

China's GDP is set to grow 4.5% YoY in Q3, up from Q2's 4.3%, as AI-driven exports offset weak domestic spending.