Analysis: RMB appreciation may support Bitcoin price trends

According to Mars Finance, CoinDesk Japan analysis indicates that the yuan has recently appreciated to 7.043 yuan per US dollar, a new high since October. This represents a roughly 1% increase this quarter and a 4% rise from its April low. Analysts believe that the yuan's appreciation may indirectly benefit Bitcoin through macroeconomic factors and the foreign exchange market. A stronger yuan may prompt China to implement economic stimulus policies to alleviate inflationary pressures, while simultaneously pushing down the US dollar index. A weaker dollar typically increases demand for dollar-denominated assets like Bitcoin. In the coming weeks, whether the yuan's appreciation and related policies can provide support for Bitcoin will be a key focus for the market.