Arthur Hayes: China’s tariff response could mean even more capital outflows into cryptocurrencies

Increased tensions in trade relations between the United States and China could lead to a new round of capital outflows to cryptocurrencies, including bitcoin BTC $85,310.46 Bitcoin 2.79% Market capitalization $1.69 trillion VOL. 24 hours $1.9 billion . This opinion was expressed by Arthur Hayes, founder of the BitMEX crypto exchange, noting that the probable devaluation of the yuan by the People’s Bank of China will signal a massive transfer of capital to decentralized assets.

According to Hayes, a similar scenario has already been realized in 2013, 2015, and 2019, when the weakening of the yuan was accompanied by an increase in the price of bitcoin. He suggested that the situation could repeat itself in 2025. In his opinion, it is Chinese monetary policy, along with the actions of the US Federal Reserve, that could be the catalyst for a new bullish trend in the crypto market.

A similar opinion was expressed by Ben Zhou, co-founder of the Bybit exchange. He noted that during the depreciation of the yuan, Chinese investors traditionally look for alternatives to preserve capital, and bitcoin often plays the role of such a «safe haven.» According to him, every significant decline in the value of the Chinese currency in the past has been accompanied by an increase in interest in BTC.

Analysts emphasize that cryptocurrencies can act as a tool to protect assets from currency controls and government restrictions. In China, which has a strict system of financial regulation, digital assets have been repeatedly used to move capital out of the country and to preserve savings in times of economic instability.

The Chinese government’s statements about its readiness to take decisive action in response to the new US tariffs have only increased expectations of possible measures by the central bank. Experts believe that even a slight devaluation of the yuan in 2025 could reignite the flow of funds to cryptocurrencies, especially in the face of global distrust of financial institutions.