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Presto Research: China's central bank's interest rate cut has caused little reaction in the cryptocurrency market

On September 24th, Rick Maeda, a research analyst at Presto Research in Singapore, pointed out that today's RRR cut by the People's Bank of China hardly caused a reaction in the cryptocurrency market, but it triggered a rise in Asian stocks, with Hong Kong's Hang Seng Index rising 3.2% and the Shanghai Composite Index rising 2.3%. Bitcoin's lack of response to the news, too, seems to indicate that Bitcoin's movements may be more closely tied to Federal Reserve policy and the U.S. market, as evid...

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2024-09-24 20:10:57