China-Driven Risk-Off: Bitcoin Slips as Banks Dump U.S. Treasuries

Published at 2026-02-09 09:15:14

Bitcoin fell after Chinese authorities instructed domestic banks to cut back on U.S. Treasury holdings, part of a wider reallocation that includes ramped-up official gold buying. Markets interpreted the move as a risk-off signal, and BTC dropped as traders reassessed cross-asset flows and liquidity conditions.

The development matters because China is a major Treasury holder; sustained selling or reduced demand can alter yield dynamics and dollar strength, amplifying volatility in risk assets including crypto. Traders should watch U.S. yields, the dollar, and continued PBOC gold purchases—if the rebalancing persists, safe-haven flows could strengthen while pressure on Bitcoin and other risk-linked assets may continue.

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