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China, Germany Fire Fiscal Rockets as U.S. Looks to Cut Spending. What Does it Mean for Bitcoin?

China and Germany have announced new fiscal measures that have boosted market sentiment for cryptocurrencies like Bitcoin (BTC) and traditional markets. China's National People's Congress aims for 5% GDP growth and a fiscal deficit target of 4% of GDP, an increase from the previous year. The country's plan prioritizes domestic demand and consumption in line with a consumer-driven growth model. Germany has also announced plans to unlock billions of euros for defense and infrastructure investments, signaling a shift in fiscal policy. Both countries' fiscal plans could put downward pressure on the dollar, potentially impacting bond prices and driving yields higher. The weakening dollar has led to a rally in the EUR/USD exchange rate and increased risk-taking in financial markets.

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