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China has added five tonnes of gold to its reserves in under a month as part of an increasing aggressive purchase of the precious metal. Bitcoin continues to stand firm above the $87,000 level despite recent market fluctuations.
PBOC Gold Accumulation Up As Bitcoin Price Soars
According to the Kobeissi Letter in posting messages on X, the People’s Bank of China has been abruptly accumulating gold. It has acquired five tonnes over the last month. This has taken place amid uncertainty in global markets from the rift caused by persistent tensions in trade along US-China fronts.
Bitcoin traders seem to witness this, as the price of the crypto holds strong at $87,280, with scanty negative macronews in the background. Merely four days ago, cryptocurrencies fell back after US President Donald Trump proclaimed a 245% import tax on Chinese items. The quick recovery has surprised many market observers.
BREAKING: China’s central bank increased its gold holdings by 5 tonnes in March, posting their 5th consecutive monthly purchase.
This brings total China’s gold reserves to a record 2,292 tonnes.
Chinese gold holdings now reflect 6.5% of its total official reserve assets.… pic.twitter.com/LuwiBvnirn
— The Kobeissi Letter (@KobeissiLetter) April 20, 2025
Whale Wallets Indicate Growing Appetite For Bitcoin
Statistics by Glassnode indicate a steep increase in addresses containing over 1,000 Bitcoin. More than 60 new “whale” wallets have entered the market since early March.
The number of such large Bitcoin addresses has increased from 2,030 in late February to 2,100 as of April 15, which is the highest in four months. The boost indicates large investors are purchasing more Bitcoin despite changing market conditions.
Others say the strength of Bitcoin lies in its increased popularity as an inflation hedge, akin to gold. This theory has become more widely accepted as China seems to be steering away from US dollar-denominated assets.
Gold Prices Hit New Records As Trade Tensions Mount
Prices of gold have surged to $3,401, up by close to $100 over only a week. The rise comes as institutions, dominated by China, raise their gold stockpiles.
The ongoing tariff war between the US and China has driven investors towards traditional safe-haven assets. Bitcoin is also seen to be gaining from this same trend, with some investors seeing it as a contemporary option for gold in times of uncertainty.
Mixed Signals From ETF Flows And Market Analysts
Not everything is rosy for Bitcoin. Reports disclose that nearly $5 billion has exited Bitcoin ETFs since their aggregate flow hit all-time highs. In spite of this outflow, Bitcoin’s price has remained extremely stable.
There are also contradictory reports regarding China’s position on Bitcoin. While there are rumors that China may be accumulating a Strategic Bitcoin Reserve, other reports say the nation sold 15,000 BTC on offshore exchanges.
The cryptocurrency’s ability to maintain its price despite these mixed signals has caught the attention of traders worldwide. As US-China economic tensions continue, investors are watching both gold and Bitcoin as potential safe havens in an increasingly unstable global market.
Featured image from GEPL Capital, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
