Earlier this week, Fan Yifei, the deputy governor of the People’s Bank of China said warned which stablecoins as Tether (USDT) poses “risks and challenges to the international monetary system, and payment and liquidation systems”. Fan didn’t save either (BTC) and called it a tool for speculation and a possible threat to “financial security and social stability.”
Apart from the FUD from China, many traders have focused on unlocking a large amount of Bitcoin on the Grayscale Bitcoin Trust as a possible bearish sign. However, market analysis by crypto trading company QCP Capital said the event it will not be they have a “significant impact on the overall market outside of GBTC itself”.
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