{"id":29857,"date":"2024-09-25T22:00:31","date_gmt":"2024-09-25T19:00:31","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29857"},"modified":"2024-09-25T16:27:12","modified_gmt":"2024-09-25T13:27:12","slug":"chinas-monetary-policy-may-affect-crypto-assets","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/chinas-monetary-policy-may-affect-crypto-assets\/","title":{"rendered":"China&#8217;s Monetary Policy May Affect Crypto Assets"},"content":{"rendered":"<p>Though it had little effect on the bitcoin market, which stayed quite flat over the previous 24 hours, <strong>China&#8217;s<\/strong> large monetary stimulus program, revealed on Tuesday, gave hope to European and American share markets.<\/p>\n<p>But given <strong>China&#8217;s<\/strong> aggressive monetary policies and the recent 50-basis-point rate reduction by the U.S. Federal Reserve, QCP Capital analysts observed that worldwide trend of easing that would support risk assets, including cryptocurrencies, in the near future seems evident.<\/p>\n<p>In the framework of this relaxation, QCP Capital underlined a mounting bullish attitude regarding ether in the derivatives market. They also saw a change in ether options, whereby the front-end skew switched from puts to calls to signal expected upward price movement.<em> &#8220;Ether implied volatility is also trading 9% higher than bitcoin, suggesting both upside sentiment and more expected volatility,<\/em>&#8221; they said.<\/p>\n<p>Macroeconomically, <strong>China&#8217;s<\/strong> stimulus policies\u2014which aimed to lower borrowing rates and increase economic activity\u2014included lowering the reserve requirements for banks, so enabling them to lend more, and lowering interest rates on current mortgages by 0.5 percentage points. Steps to relax borrowing limits to invest in equity supplemented these efforts, sending the Shanghai Composite Index skyward by more than 4% on Tuesday to close at 2,863.13 points.<\/p>\n<p>Pan Gongsheng, governor of the <strong>People&#8217;s Bank of China<\/strong> (PBoC), underlined that these initiatives seek to boost domestic demand and financial markets, so strengthening investor confidence. Global commodities prices\u2014including copper and Brent crude\u2014increased as a result; Brent crude rose more than 1.4% to about $74.28 a barrel at the time of writing.<\/p>\n<p>As <strong>China&#8217;s<\/strong> stimulus drove a general risk-on attitude, European and U.S. equities surged, and sectors connected to the <strong>Chinese<\/strong> economy saw large increases. The FTSE 100 closed down 0.28% in London; the STOXX Europe 600 climbed 0.65%. Early trading showed the S&amp;P 500 gaining 0.21%, the Dow Jones moving 0.01%, and the Nasdaq rising 0.55%.<\/p>\n<p>&nbsp;<\/p>\n<p><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram,\u00a0<\/strong><\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>,\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for\u00a0<\/em><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">the latest\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Though it had little effect on the bitcoin market, which stayed quite flat over the previous 24 hours, China&#8217;s large monetary stimulus program, revealed on Tuesday, gave hope to European and American share markets. But given China&#8217;s aggressive monetary policies and the recent 50-basis-point rate reduction by the U.S. Federal Reserve, QCP Capital analysts observed<\/p>\n","protected":false},"author":6,"featured_media":20171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[1205,6025],"class_list":["post-29857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-china","tag-chinese-economy"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China&#039;s Monetary Policy May Affect Crypto Assets - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/chinas-monetary-policy-may-affect-crypto-assets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China&#039;s Monetary Policy May Affect Crypto Assets - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Though it had little effect on the bitcoin market, which stayed quite flat over the previous 24 hours, China&#8217;s large monetary stimulus program, revealed on Tuesday, gave hope to European and American share markets. 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