Question n° 482 ·
How did the surge in the Chinese yuan to its highest value against the dollar since May 2023 influence Bitcoin trading between $85,000 and $90,000?
- The yuan’s rise boosted global Bitcoin buying, pushing prices above $90,000
- A stronger yuan led Chinese miners to sell BTC in large volumes, crashing it below $85,000
- A stronger yuan diverted Asian capital, reducing demand and keeping Bitcoin within that range Bonne réponse
Pourquoi est-ce la bonne réponse?
This is correct because when the yuan strengthens, Asian investors often prefer local currency assets, leading to less capital flowing into Bitcoin and muted price movement between $85,000 and $90,000.