Whenever the Chinese yuan bottoms, global liquidity turns up.

$BTC

BTC
BTCUSDT
89,267
-3.22%

$ETH

ETH
ETHUSDT
3,028.6
-3.92%

Bitcoin stabilizes first, but risk rotation always follows.

→ ETH/BTC bottoms right at the yuan bottom.

→ Then ETH enters its strongest outperformance phase of the entire cycle.

This pattern held in 2016, 2019, and 2025.