October 09, 2025<\/p>\n\n\n\n
By Our Correspondent<\/p>\n\n\n\n
This week, major cryptocurrency tokens like bitcoin and BNB hit all-time highs due to global government unrest that boosted the value of alternative assets. This thrilled China’s cryptocurrency community, which is reevaluating digital assets like stablecoins.
The world’s largest cryptocurrency, Bitcoin, reached a new all-time high of US$126,000 on Monday. However, on Tuesday, it dropped more than 1% to below US$124,000.
On Tuesday, BNB, the native token of Binance, the biggest cryptocurrency exchange in the world, also reached a new high of US$1,268. According to a Forbes billionaire list, Changpeng Zhao, the creator of Binance, increased his personal wealth to US$89.7 billion as a result of the most recent cryptocurrency surge.<\/p>\n\n\n\n
On mainland social media, Chinese cryptocurrency aficionados’ response to bitcoin’s recent peak was subdued, but on X, many praised the token’s most recent success and predicted an unheard-of crypto bull market.<\/p>\n\n\n\n
Global investors flocked to assets outside of key currencies like the US dollar, which has been under pressure due to a week-long US government shutdown, as evidenced by the most recent gains.
Offshore yuan stablecoins have become a potentially significant sector for the Chinese currency’s ability to compete globally.<\/p>\n\n\n\n
Gold prices, which have increased by more than 50% since the start of this year, also hit a new record by getting close to $4,000.<\/p>\n\n\n\n
According to Nick Ruck, director at LVRG Research, the rise in Bitcoin “signals its role as a hedge against fiscal uncertainty, as the US government shutdown wavers confidence in safe assets.”
Investors “seeking refuge from a volatile monetary landscape” have turned to the so-called debasement trade in gold and bitcoin, according to Ruck. The term “debasement trade,” which has gained popularity recently, is the trading technique in which investors use alternative assets as a hedge against the devaluation of fiat currencies.<\/p>\n\n\n\n
The “safe-haven appeal of bitcoin is reasserting itself,” according to a report released on Monday by digital asset trading firm QCP Capital, as the price of the cryptocurrency has increased by 10% in the last week due to the US government shutdown.
The US president Donald Trump’s supportive policies toward the digital asset market, such as the US Genius Act, which seeks to create a stablecoin regulatory framework, have caused the value of bitcoin to nearly quadruple over the past year.<\/p>\n\n\n\n
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October 09, 2025 By Our Correspondent This week, major cryptocurrency tokens like bitcoin and BNB hit all-time highs due to global government unrest that boosted the value of alternative assets. This thrilled China’s cryptocurrency community, which is reevaluating digital assets like stablecoins. The world’s largest cryptocurrency, Bitcoin, reached a new all-time high of US$126,000 on […]<\/p>\n","protected":false},"author":4,"featured_media":8994,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[128,127],"tags":[],"class_list":{"0":"post-8992","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"category-cryptocurrency"},"yoast_head":"\n