Crypto Bull Impending, As China Injects Liquidity Ahead of US, Justin Sun Suggests

The CEO and founder of TRON Blockchain technology, Justin Sun, has weighed in on what to expect in the crypto market in the coming days, especially amid a series of global events and updates, including those from the U.S. and Chinese governments.

On Monday, September 23, China’s central bank made a significant effort to ease monetary conditions, injecting 14-day cash into its banking system at a lower interest rate. This event was seen as the first of its kind in recent months, CNBC reports.

The People’s Bank of China injected approximately $33.29 billion (234.6 billion yuan) to improve liquidity in the banking system at a reasonable rate. The injection was made through open market operations.

Meanwhile, the U.S. Federal Reserve recently announced a lowering of interest rates to ease the financial burden on people, a move also dubbed the first of its kind in over four years. However, while China, the world’s second-largest economy, injected liquidity into its system ahead of the U.S., Justin Sun sees this as a significant and favorable move that may help Bitcoin and other cryptocurrencies resume the bull cycle soon.

Sun made the statement on his Twitter account:

https://x.com/justinsuntron/status/1838604021181092233

Analysts Warn Against Selling Bitcoin at $74,000: Too Early and Disastrous

Considering Bitcoin’s performance in the market and various financial developments globally, one crypto/finance analyst has warned that the crypto bull run may last longer than expected, and selling too early could be dangerous.

The analyst made this claim on Twitter, citing global developments such as the liquidity injection by the People’s Bank of China, weakening dollar strength, and the U.S. Federal Reserve’s interest rate cuts as positive news that could help Bitcoin remain in a bull cycle potentially until 2025.

He added that China’s 10-point economic easing plan will boost the Chinese economy, introducing more liquidity into the market, even beyond China. This, combined with the reduced interest rates, could lead to less strict and more accommodative monetary policies from major global economies like Japan, China, and the U.S., which in turn may enhance crypto adoption and pricing.

https://x.com/LeonidShalimov/status/1838761890853367872