According to André Dragosch, Chinese President Xi Jinping called for the renminbi to become a global reserve currency, stating that China must build a powerful currency widely used in international trade, investment, and foreign exchange markets, ultimately achieving reserve status (source: André Dragosch on X). Shared within a Bitcoin-focused context, the headline links renminbi internationalization with crypto discourse that tracks reserve currency diversification narratives (source: André Dragosch on X).

According to CryptoMichNL, traders should prioritize monitoring China's economic indicators, particularly the Renminbi (CNY), over the U.S. dollar when analyzing altcoin price movements. In his discussion with Hugh Hendry, CryptoMichNL highlights that shifts in the Chinese currency can signal crucial changes in global liquidity and risk appetite, which directly impact altcoin volatility and trading strategies. This perspective suggests that keeping a close watch on CNY trends may provide early signals for significant altcoin market moves. Source: CryptoMichNL via Twitter, June 20, 2025.

According to Michaël van de Poppe (@CryptoMichNL), the ongoing appreciation of the Chinese Renminbi is correlated with sustained upward momentum in Ethereum (ETH), which continues to outperform other cryptocurrencies. He notes that Bitcoin (BTC) is on track to approach a new all-time high within the next 1-2 weeks, highlighting a bullish trend for major cryptocurrencies. Traders should monitor yuan strength as a macro factor influencing crypto inflows and price action, especially as ETH shows relative outperformance (Source: Twitter/@CryptoMichNL, May 13, 2025).