Arthur Hayes says forget the Fed — watch China.

As trade tensions heat up, the PBOC may devalue the yuan, and according to Hayes, that could trigger a wave of capital into Bitcoin.

“If the Fed won’t save us, the People’s Bank of China just might,” Hayes posted on X.

“Yuan devaluation triggered BTC pumps in 2013 and 2015. It could happen again in 2025.”

🧠 Bybit CEO Ben Zhou agrees: when the yuan drops, Chinese capital often finds its way into BTC — and it’s already down 2% against the dollar, its biggest single-day drop since 2015.

In past cycles, Chinese investors have used Bitcoin as a hedge against capital controls and currency erosion. Grayscale even flagged yuan weakness as a key BTC driver back in 2019.

🇨🇳 Beijing isn’t backing down — China’s Ministry of Commerce says it will “fight to the end” if Trump enforces higher tariffs.

💬 Is a Bitcoin bull run made in China possible again?

#Bitcoin #CryptoChina #ArthurHayes #Yuan #BTC

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