According to ChainCatcher, Matrixport released a chart today stating that after the RMB depreciation in 2015, Bitcoin experienced a sell-off but ultimately rebounded strongly by the end of the year, closing with an annual gain. Currently, we might witness a similar scenario, which echoes our bullish view on gold from 18 months ago.

Currently, the USD/RMB (USDCNY) exchange rate is expected to break through a key technical resistance level, which is highly similar to our previous assessment of gold being "artificially suppressed and poised for a breakthrough", potentially signaling an imminent rapid increase in Bitcoin.

Additionally, the correlation between USDCNY and the US 10-year Treasury yield is worth noting. Although the US bond yield has recently declined, a rapid rebound could potentially create short-term pressure on Bitcoin's upward momentum.