China’s Stock Rally Takes a Toll on its Crypto Market
Author: Content Editor
Chinese crypto investors are selling their digital assets to capitalize on the rising equity prices in China's stock market, which is currently experiencing high levels of volatility. Kaiko Research reported that the CSI 300 index reached its highest annualized 60-day volatility since 2016, comparable to Bitcoin's volatility. The analysis also revealed that trading volume during Asia-Pacific trading hours suggests that Asia-based traders are leading the liquidations. Bitcoin itself experienced minor movements the previous week but saw increased volatility in the new week, with a 9.41% surge and subsequent slight pullback. Kaiko also highlighted two other events in the crypto sector, including the SEC charging a crypto liquidity provider and taking action against companies involved in wash trading.