China’s Currency Woes to Weigh on Bitcoin (BTC): Crypto Analyst

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Tyler Spalding, CEO / Co-Founder, Flexa, 2Chainz and Zack Seward, Deputy Editor-in-Chief, CoinDesk
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The tightly controlled Chinese yuan (CNY) has declined 1.39% against the U.S. dollar, with its offshore Hong Kong version, CNH, registering a 1.25% drop. China’s benchmark equity index, the Shanghai Composite, has dropped over 7% to its lowest since March 2020, according to data from the charting platform TradingView.



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