In China, a Cat-and-Mouse Game to Rein In Crypto
Crypto
Chinese court cases highlight a persistent cat-and-mouse game between authorities and crypto intermediaries, who continue to facilitate a booming, albeit underground, trade. This ongoing evasion suggests a resilient demand for crypto within China, despite official crackdowns.
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↑ LONG+10% target-5% stop2-4 weeks
The persistent underground crypto activity in China, despite crackdowns, signals continued demand, creating a "long" bias for global crypto assets like BTC and ETH.