BTC Bounce For How Long, Will China Ease Restrictions?

Watching BTC closely for a clue to this week's action.

Shanghai to try to ease 7-week virus lockdown in a few days

Shanghai will try again to reopen in a few days after it has eliminated COVID-19 transmission among the general population as the outbreak in China's largest city subsides, an official said Friday.

The strict lockdown of the city — now in its seventh week, but lifted and reinforced at times to the frustration of residents — is part of the ruling Communist Party's “zero-COVID” policy that has exacted a mounting economic toll and that even the World Health Organization says may be unsustainable.

If this is bullish for crude oil, the stock and bond markets will be heading down sooner than expected.