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Weaker yuan is 'bullish for BTC' as Chinese capital flocks to crypto — Bybit CEO

  • Weaker yuan, resulting from the US-China trade war, could drive Chinese capital into Bitcoin, according to Bybit CEO.
  • Chinese central bank has let the yuan weaken against the US dollar, signaling readiness to let the currency fluctuate more freely.
  • Bybit is the world’s second-largest crypto exchange by volume and CEO Ben Zhou predicts Chinese capital flow into BTC due to yuan weakening.
  • Bitcoin has historically shown an inverse relationship with the US dollar, with a weaker dollar associated with a higher BTC price.

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