Recently, an interesting phenomenon has caught attention—the RMB has appreciated to 7.043 yuan per US dollar, a new high since October. From the data, the increase this quarter is about 1%, rising 4% since the low in April, and the upward trend remains relatively stable.

So, what does this have to do with Bitcoin? The logic is actually quite straightforward. RMB appreciation may lead to domestic economic stimulus policies to ease inflationary pressures. More importantly, when the RMB strengthens, the US dollar index often comes under pressure. Once the dollar weakens, assets priced in dollars—including Bitcoin—tend to see increased demand.

In simple terms, RMB appreciation → US dollar weakening → increased attractiveness of dollar-denominated crypto assets. In the coming weeks, the performance of the RMB and related policy movements will be key market focuses, directly affecting whether Bitcoin can find support.