China's Central Bank Halts Bond Purchases to Support Yuan
On Friday, China's central bank took steps to support the yuan, which has been losing ground, with its depreciation being viewed as a potential tailwind for bitcoin (BTC). The People's Bank of China announced that it will stop purchasing government bonds this month as their demand now overshadows the supply.
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At the beginning of 2025, the exchange rates of the yuan have undergone notable fluctuations, drawing significant attention.
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