Analysts believe that a devaluation of this currency could trigger an avalanche of capital towards virtual currencies.
The trade showdown between the two largest economies in the world does not seem to close a chapter that immediately plunges into a new one. Now, the possible repercussions may extend to the digital asset market.
Following the confirmation from the U.S. to further increase tariffs on Chinese products (104%), Beijing's response remains in the spotlight. Thus, the gaze of analysts and experts is directed towards a Chinese strategy that may have an unexpected bullish impact on Bitcoin (BTC) and the crypto ecosystem: the devaluation of the yuan.
Arthur Hayes, the controversial founder of the BitMEX platform, shared his view of the current state of the digital asset market. In a concise yet forceful message, he pointed to the People's Bank of China (PBOC) as the potential catalyst to revive the long-awaited bullish run of the crypto boards.
His argument is based on the premise that, in the face of a devaluation of the yuan, the narrative of an outflow of Asian capital towards Bitcoin could be rehashed, just as it happened in the cycles of 2013, 2015, and 2025.
He also recalls the historical correlation between the devaluation of the yuan and the influx of Chinese capital into Bitcoin, considering it a bullish factor for the leading cryptocurrency.
