This week has not been friendly for Bitcoin, with prices dropping over 13%, and the market has directly dubbed it 'Crypto Black Friday.' A large number of leveraged positions were liquidated, panic sentiment spread, and investor confidence has been severely impacted.

However, amidst the pessimism, some analysts have put forward a rather novel viewpoint, suggesting that China's liquidity may become a key factor for Bitcoin's rebound.

The logic is as follows: China's M2 money supply is rapidly expanding. Historical data shows a certain correlation between global liquidity and Bitcoin prices. As the world's second-largest economy, if China's liquidity really begins to overflow, some funds are likely to flow into high-yield assets like Bitcoin.

Of course, this logic has a major premise, which is whether China's capital controls will be relaxed. The reality is that whether money can flow out and how it can flow out are both issues. So this viewpoint sounds reasonable, but the actual implementation has a lot of uncertainty.