The Chinese yuan stablecoin makes its debut in Kazakhstan. For the first time, an offshore yuan-linked stablecoin AxCNH has been launched in Kazakhstan, utilizing Conflux technology, aiming to facilitate cross-border payments and the internationalization of the yuan.

Reuters reported that Bitcoin and Ethereum surged due to large purchases by whales, indicating that whales bought approximately $3.3 billion in BTC and $1.73 billion in ETH this week, driving prices upwards. BTC is trading around $111,000, and ETH is around $4,120.
around USD

Cryptocurrency market rallies comprehensively. According to Kraken data, BTC rose by ~2.4%, ETH +2.8%, SOL +3.4%, and XRP +3.5%, indicating a clear return of bullish sentiment. Barron's Weekly reports that U.S. stock markets and the cryptocurrency market are reacting to the risks of government shutdown and the weakening of the dollar, with the dollar slipping by 0.2% and BTC recovering to the ~112,000 dollar range.

🧭 Market Trends & Indicator Dynamics (Estimates/Public Reports)
BTC price has rebounded to around $112,200, up ~2.4% Resistance: $114,000–115,000 range; Support: $108,000–$110,000 If resistance is broken with volume support, it may return to an upward trend. ETH is up ~2.8% Resistance may be at $4,400+; Support is in the $4,000–4,100 range, need to observe whether the whale purchases are sustainable. Both SOL / XRP have increased (SOL +3.4%, XRP +3.5%). If ALT coins are rotated by funds, they may gain momentum. The rotation of Altcoin could present short-term opportunities.

🔗 On-chain / Whale / Fund Flow Observation

Whales have been actively buying BTC and ETH this week, which is seen as a sign of confidence in future price increases.

No significant minting or burning activities of stablecoins have been publicly reported.

China's launch of the AxCNH stablecoin may introduce new competition and influence capital flows in the stablecoin market.

⚠️ Risks and Downward Pressure

If capital rotation shifts towards safe assets or the strong return of the US dollar, it may suppress the rise of cryptocurrency assets.

If a sudden profit-taking occurs after the giant whale buys in, it may create short-term pullback pressure.

Political uncertainty, the trend of the US dollar, and macroeconomic data (such as inflation and interest rate decisions) remain key variables in the market.