【Market Brief】China’s stock market has fallen for ten straight weeks, with the CSI 300 down 20% from its June peak and now in a bear market. The effects have already begun to spread: retail investors account for nearly 90% of trading, and retail investors have been catching the falling knife in every bear-market rally; fiscal spending has declined for seven consecutive months, while 550 billion yuan in local government bonds plus 800 billion yuan in financing have propped up prices—but not confidence. Once risk appetite dries up, money won’t come back. The same is true of A-shares and crypto: BTC is also struggling below 80,000 this week. Can crypto rebound before A-shares bottom out?

$BTC $ETH $SOL
#中国股市 #风险资产 #Bitcoin
（Source: Cryptopolitan）
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