CandleFocus Bitcoin Holds Above $64K as China Stimulus Sends Conflux’s CFX, Dog Memes Running High
2024-09-27
Author: Content Editor
In the Asian market on Friday, dog-themed memecoins such as SHIB, BONK, and FLOKI saw significant gains, with BONK leading the pack at a 17% increase. Conflux's CFX also rose by 18% following news of a liquidity injection from the People's Bank of China. Bitcoin (BTC) rose by 3%, trading above $65K, while Ethereum (ETH) experienced minor outflows but still gained 4% over the week. The market seems to be rotating and exploring new narratives, with a focus on memecoins and assets perceived as "China beta." Overall, there is a return of risk appetite among investors and improving funding rates, indicating a market recovery.
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