MARKETS DAILY: Crypto Update | Why China's Market Meltdown Could Boost Bitcoin’s Price
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 7 January 2025
⏱️ 4 minutes
🧾️ Download transcript
Summary
The latest price moves and insights with Jennifer Sanasie.
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The Chinese yuan has extended its three-month losing trend, sliding to its lowest since September 2023. "Markets Daily" host Jennifer Sanasie breaks down what CNY's strength means for bitcoin price.
This content should not be construed or relied upon as investment advice. It is for entertainment and general information purposes.
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This episode was hosted by Jennifer Sanasie. “Markets Daily” is produced by Jennifer Sanasie and edited by Victor Chen. All original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:00.0 | Hello and welcome to Markets Daily hosted by me, Jen Sanasi. |
| 0:03.2 | On this show, we navigate the currents shaping the crypto markets, providing insights against the broader financial landscape. |
| 0:08.8 | So whether you're actively investing or just fascinated by the volatility that is the crypto markets, |
| 0:14.1 | this show is your compass to understanding what's happened, where we are, and where we're going. |
| 0:27.6 | Okay. where we are and where we're going. We all want to believe in something. In Chinese, belief also means trust. |
| 0:31.6 | We want to trust our systems and each other, |
| 0:33.6 | so we can build a future beyond what we know. |
| 0:36.6 | Join us at Consensus Hong Kong where belief |
| 0:39.8 | becomes real. On this show, we ask, could Bitcoin's price rally be accelerated by China's |
| 0:45.4 | market meltdown? Today's episode is going to take a look at an article written by CoinDesks |
| 0:50.6 | Omkar Koboli. It's a story of capital flight, currency devaluation, and how Bitcoin |
| 0:57.3 | continues to cement itself as a global hedge. Let's break down what's happening here. To start, |
| 1:02.9 | we have to talk about the state of the Chinese markets as we step into the new year. The Chinese |
| 1:07.5 | UN has fallen to its weakest points in September 2023, trading at 7.32 per U.S. dollar. |
| 1:14.9 | This marks a 0.4% drop in just the first week of 2025, extending a three-month losing streak. |
| 1:21.1 | Now, what's causing this slide? Investors are bracing for impending U.S. tariffs under President-elect Donald Trump's administration, |
| 1:28.3 | which has spooked the markets. Trump, as we know, was set to take office on January 20th. |
| 1:33.6 | It's not just the currency that's struggling, though. The CSI 300 index, which tracks blue-chip |
| 1:39.0 | stocks in China, has dropped to its lowest levels since September. Meanwhile, the China Next |
| 1:43.9 | Index, often seen as a |
| 1:45.1 | barometer for high growth, innovative companies, has fallen by 8% in just one week. And let's not |
| 1:50.8 | forget the bond market. The yield on China's 10-year government bonds has tumbled to 1.6% a full |
... |
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