#普京访华 Although Putin's visit to China did not directly introduce specific policies targeting cryptocurrencies, the main focus on promoting Central Bank Digital Currency (CBDC) cooperation and de-dollarization will have a profound structural impact on the entire crypto world.

The core impacts are mainly concentrated in the following three areas:

· 🌍 Long-term narrative: Strengthening the "de-dollarization" and multi-polar currency expectations
The RMB settlement rate in Sino-Russian trade has risen to 99%, essentially reducing dependence on the US dollar. Both sides are promoting cross-border payments interoperability between digital RMB and digital ruble, aiming to build a new system independent of SWIFT. This provides a long-term narrative support for non-sovereign assets like Bitcoin to serve as "diversified global reserve currencies."
· ⚖️ Short-term market: Indirect impact, market still focused on macro risks
Today's market decline was not directly caused by Putin's visit to China but was influenced by factors such as tense US-Iran relations and continuous outflows of ETF funds. Currently, this summit is a macro signal with a medium to long-term perspective and will not immediately reverse the short-term liquidity situation in the market.
· 🔗 Technical path: May divert "peer-to-peer" settlement demand
The essence of China-Russia cooperation is "controllable" interoperability of CBDCs. If enterprises can conveniently settle through compliant CBDCs, it may to some extent divert cross-border settlement demand from stablecoins like USDT, but this requires long-term observation.

Currently, the market is still dominated by Federal Reserve policies and geopolitical conflicts. $76,000 is a key short-term support level for Bitcoin; if it cannot hold, it may test the $74,000-$75,000 range.