The People's Bank of China set the CNY/USD reference rate above 7.2 for the first time since September, a move likely in response to President Donald Trump's aggressive tariffs.

Analysts say the managed depreciation could trigger capital flight into crypto, similar to what happened in 2015 when Bitcoin surged 60% after a major yuan devaluation.

However, China's tough crypto regulations could limit this. New rules require banks to report suspicious transactions, including those involving crypto, posing a big barrier for local investors.

#bitcoin #CNY #china #DonaldTrump #CoinPhoton