Bitcoin (BTC) ti&#7871;p t&#7909;c &#273;&#7889;i m&#7863;t v&#7899;i nh&#7919;ng kh&oacute; kh&#259;n t&#7915; th&#7883; tr&#432;&#7901;ng, v&#7899;i gi&aacute; gi&#7843;m 13.3% trong tu&#7847;n qua v&agrave; m&#7845;t c&aacute;c m&#7913;c h&#7895; tr&#7907; quan tr&#7885;ng.
Tuy nhi&ecirc;n, ph&acirc;n t&iacute;ch g&#7847;n &#273;&acirc;y cho th&#7845;y r&#7857;ng thanh kho&#7843;n m&#7903; r&#7897;ng c&#7911;a Trung Qu&#7889;c &mdash; thay v&igrave; c&#7911;a Hoa K&#7923; &mdash; c&oacute; th&#7875; s&#7899;m tr&#7903; th&agrave;nh &#273;&#7897;ng l&#7921;c th&uacute;c &#273;&#7849;y &#273;&#7907;t t&#259;ng gi&aacute; l&#7899;n ti&#7871;p theo c&#7911;a Bitcoin.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading">Bitcoin &#273;&#7889;i m&#7863;t v&#7899;i &aacute;p l&#7921;c, nh&#432;ng thanh kho&#7843;n m&#7903; r&#7897;ng c&#7911;a Trung Qu&#7889;c c&oacute; th&#7875; th&uacute;c &#273;&#7849;y &#273;&#7907;t t&#259;ng gi&aacute; ti&#7871;p theo</h2>

<a href="https://vn.beincrypto.com/trump-china-tariff-triggers-200-billion-crypto-crash/" target="_blank" rel="noreferrer noopener">BeInCrypto &#273;&atilde; b&aacute;o c&aacute;o r&#7857;ng</a> s&#7921; s&#7909;t gi&#7843;m c&#7911;a th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; tu&#7847;n tr&#432;&#7899;c &#273;&atilde; khi&#7871;n BTC gi&#7843;m xu&#7889;ng m&#7913;c th&#7845;p kho&#7843;ng 107,000 USD. M&#7863;c d&ugrave; c&oacute; m&#7897;t s&#7921; ph&#7909;c h&#7891;i nh&#7865; sau &#273;&oacute;, nh&#432;ng &#273;&#7897;ng l&#7921;c &#273;&atilde; gi&#7843;m <a href="https://beincrypto.com/learn/what-causes-bitcoins-volatility" target="_blank" rel="noreferrer noopener">m&#7897;t l&#7847;n n&#7919;a.</a>
Th&#7921;c t&#7871;, trong 24 gi&#7901; qua, &#273;&#7891;ng ti&#7873;n &#273;i&#7879;n t&#7917; l&#7899;n nh&#7845;t &#273;&atilde; gi&#7843;m 4.85%. T&#7841;i th&#7901;i &#273;i&#7875;m vi&#7871;t b&agrave;i, n&oacute; <a target="_blank" href="https://vn.beincrypto.com/bitcoin-price-drop-below-100000-analysis/" rel="noreferrer noopener">&#273;&#432;&#7907;c giao d&#7883;ch &#7903; m&#7913;c 105,317 USD</a>.
<img style="height:400px;width:640px;" decoding="async" alt="Bitcoin (BTC) Price Performance" class="wp-image-762132 lazy" loading="lazy" src="https://assets.beincrypto.com/img/Mo3K3kyNi8awSQVO1JA1hpgjOWM=/smart/699fa3b13c2f49c487d68c962b0bd165">Hi&#7879;u su&#7845;t gi&aacute; Bitcoin (BTC). Ngu&#7891;n: <a href="https://beincrypto.com/price/bitcoin/" target="_blank" rel="noreferrer noopener">BeInCrypto Markets</a>

&#272;&#7891;ng th&#7901;i, cung ti&#7873;n M2 c&#7911;a M&#7929; &#273;&atilde; duy tr&igrave; &#273;i ngang trong v&agrave;i tu&#7847;n. L&#7883;ch s&#7917; cho th&#7845;y gi&aacute; Bitcoin c&oacute; <a target="_blank" href="https://vn.beincrypto.com/m2-money-supply-btc-correlation/" rel="noreferrer noopener">m&#7889;i t&#432;&#417;ng quan v&#7899;i s&#7921; t&#259;ng tr&#432;&#7903;ng c&#7911;a M2</a> &mdash; khi thanh kho&#7843;n m&#7903; r&#7897;ng, BTC th&#432;&#7901;ng h&#432;&#7903;ng l&#7907;i. Tuy nhi&ecirc;n, v&#7899;i s&#7921; &#273;&igrave;nh tr&#7879; hi&#7879;n t&#7841;i, tri&#7875;n v&#7885;ng ng&#7855;n h&#7841;n cho Bitcoin c&oacute; v&#7867; &#7843;m &#273;&#7841;m.
M&#7863;c d&ugrave; v&#7853;y, Joao Wedson, ng&#432;&#7901;i s&aacute;ng l&#7853;p Alphractal, cho r&#7857;ng Bitcoin c&oacute; th&#7875; l&#7845;y l&#7841;i &#273;&#7897;ng l&#7921;c <a target="_blank" href="https://vn.beincrypto.com/digital-asset-fund-inflows-record-2025/" rel="noreferrer noopener">t&#7915; ph&#432;&#417;ng &#272;&ocirc;ng</a>, n&#417;i thanh kho&#7843;n c&#7911;a Trung Qu&#7889;c ti&#7871;p t&#7909;c t&#259;ng m&#7841;nh. &Ocirc;ng l&#432;u &yacute; r&#7857;ng cung ti&#7873;n M2 c&#7911;a Trung Qu&#7889;c &#273;&atilde; ph&igrave;nh to h&#417;n g&#7845;p &#273;&ocirc;i so v&#7899;i M&#7929;, m&#7903; r&#7897;ng kho&#7843;ng c&aacute;ch l&ecirc;n &#273;&#7871;n 24.9 ngh&igrave;n t&#7927; USD.
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&ldquo;Hi&#7879;n t&#7841;i, cung ti&#7873;n M2 c&#7911;a Trung Qu&#7889;c l&#7899;n h&#417;n 2.1 l&#7847;n so v&#7899;i c&#7911;a Hoa K&#7923;. Trong khi M2 c&#7911;a M&#7929; &#273;&atilde; &#273;i ngang trong nhi&#7873;u tu&#7847;n, M2 c&#7911;a Trung Qu&#7889;c ti&#7871;p t&#7909;c t&#259;ng kh&ocirc;ng ng&#7915;ng &mdash; hi&#7879;n cao h&#417;n M&#7929; 24.9 ngh&igrave;n t&#7927; USD,&rdquo; &ocirc;ng vi&#7871;t.
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Theo Wedson, c&aacute;c m&ocirc; h&igrave;nh l&#7883;ch s&#7917; cho th&#7845;y m&#7897;t m&#7889;i t&#432;&#417;ng quan r&otilde; r&agrave;ng. M&#7895;i khi M2 c&#7911;a Trung Qu&#7889;c v&#432;&#7907;t qua M&#7929;, <a target="_blank" href="https://vn.beincrypto.com/crypto-market-sentiment-shifts-to-extreme-fear/" rel="noreferrer noopener">gi&aacute; Bitcoin t&#259;ng l&ecirc;n.</a>
H&#417;n n&#7919;a, s&#7921; &#7893;n &#273;&#7883;nh trong t&#7927; l&#7879; n&agrave;y &#273;&atilde; t&#432;&#417;ng &#7913;ng v&#7899;i s&#7921; di chuy&#7875;n ngang c&#7911;a t&agrave;i s&#7843;n. D&#7845;u hi&#7879;u n&agrave;y, m&agrave; gi&aacute;m &#273;&#7889;c &#273;i&#7873;u h&agrave;nh g&#7885;i l&agrave; t&iacute;n hi&#7879;u &lsquo;macro alpha&rsquo;, &#273;&atilde; t&aacute;i di&#7877;n qua c&aacute;c chu k&#7923; th&#7883; tr&#432;&#7901;ng, cho th&#7845;y d&ograve;ng v&#7889;n t&#7915; Trung Qu&#7889;c c&oacute; th&#7875; b&#417;m nhu c&#7847;u c&#7845;u tr&uacute;c v&agrave;o th&#7883; tr&#432;&#7901;ng Bitcoin.
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&ldquo;H&atilde;y nh&#7899; r&#7857;ng, Trung Qu&#7889;c t&#7915;ng th&#7889;ng tr&#7883; vi&#7879;c khai th&aacute;c Bitcoin cho &#273;&#7871;n n&#259;m 2021, khi l&#7879;nh &lsquo;c&#7845;m&rsquo; x&#7843;y ra &mdash; m&agrave; h&atilde;y th&agrave;nh th&#7853;t, n&oacute; ch&#432;a bao gi&#7901; tuy&#7879;t &#273;&#7889;i. V&#7851;n c&ograve;n nhi&#7873;u th&#7907; m&#7887; v&agrave; c&aacute; voi OG Trung Qu&#7889;c ho&#7841;t &#273;&#7897;ng tr&ecirc;n th&#7883; tr&#432;&#7901;ng. Mi&#7877;n l&agrave; M2 c&#7911;a Trung Qu&#7889;c ti&#7871;p t&#7909;c t&#259;ng, thanh kho&#7843;n to&agrave;n c&#7847;u c&oacute; kh&#7843; n&#259;ng ti&#7871;p t&#7909;c &#7911;ng h&#7897; Bitcoin,&rdquo; Wedson b&#7893; sung.
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<img style="height:400px;width:640px;" decoding="async" alt="BITCOIN CHINA M2" class="wp-image-762106 lazy" loading="lazy" src="https://assets.beincrypto.com/img/SIQ078k_SGqt7DJiS1SBdY5urPQ=/smart/877162f10aa142e89ad1b0a5aa4b62f4">M&#7889;i t&#432;&#417;ng quan gi&#7919;a M2 c&#7911;a Trung Qu&#7889;c v&agrave; BTC. Ngu&#7891;n: <a href="https://x.com/joao_wedson/status/1978844791816564940" target="_blank" rel="noreferrer noopener nofollow">X/joao_wedson</a>

Trong khi &#273;&oacute;, nh&agrave; ph&acirc;n t&iacute;ch Shanaka Anslem Perera c&#361;ng nh&#7845;n m&#7841;nh r&#7857;ng Bitcoin &#273;&atilde; b&#432;&#7899;c v&agrave;o m&#7897;t giai &#273;o&#7841;n m&#7899;i. H&agrave;nh &#273;&#7897;ng gi&aacute; c&#7911;a n&oacute; ng&agrave;y c&agrave;ng g&#7855;n li&#7873;n v&#7899;i c&aacute;c chu k&#7923; thanh kho&#7843;n kinh t&#7871; v&#297; m&ocirc;, kh&ocirc;ng ph&#7843;i l&#7883;ch tr&igrave;nh gi&#7843;m m&#7897;t n&#7917;a &#273;&atilde; &#273;&#432;&#7907;c l&#7853;p tr&igrave;nh.
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&ldquo;Bitcoin &#273;&atilde; chuy&#7875;n t&#7915; halving beta &rarr; liquidity beta. BTC kh&ocirc;ng c&ograve;n giao d&#7883;ch theo block clock &hellip; n&oacute; giao d&#7883;ch theo &#273;&#432;&#7901;ng cong thanh kho&#7843;n. &#272;&#7881;nh v&agrave; &#273;&aacute;y kh&ocirc;ng &#273;&#432;&#7907;c thi&#7871;t l&#7853;p b&#7903;i c&aacute;c &#273;&#7907;t gi&#7843;m m&#7897;t n&#7917;a; ch&uacute;ng &#273;&#432;&#7907;c thi&#7871;t l&#7853;p b&#7903;i c&aacute;c ng&acirc;n h&agrave;ng trung &#432;&#417;ng. Si&ecirc;u chu k&#7923; ti&#7871;p theo k&#7871;t th&uacute;c kh&ocirc;ng ph&#7843;i khi ngu&#7891;n cung gi&#7843;m m&#7897;t n&#7917;a&hellip; m&agrave; khi thanh kho&#7843;n gi&#7843;m,&rdquo; &ocirc;ng <a href="https://x.com/shanaka86/status/1976673905541849499" target="_blank" rel="noreferrer noopener nofollow">ph&aacute;t bi&#7875;u</a>.
</blockquote>

V&igrave; v&#7853;y, v&#7899;i vi&#7879;c thanh kho&#7843;n c&#7911;a Trung Qu&#7889;c m&#7903; r&#7897;ng, tr&#7885;ng t&acirc;m cho &#273;&#7897;ng th&aacute;i ti&#7871;p theo c&#7911;a Bitcoin c&oacute; th&#7875; &#273;ang chuy&#7875;n v&#7873; ph&iacute;a &#273;&ocirc;ng. N&#7871;u c&aacute;c m&#7889;i t&#432;&#417;ng quan l&#7883;ch s&#7917; &#273;&#432;&#7907;c gi&#7919; v&#7919;ng, M2 t&#259;ng c&#7911;a Trung Qu&#7889;c v&agrave; &#273;i&#7873;u ki&#7879;n t&iacute;n d&#7909;ng n&#7899;i l&#7887;ng c&oacute; th&#7875; &#273;&#7863;t n&#7873;n t&#7843;ng cho &#273;&#7907;t t&#259;ng gi&aacute; l&#7899;n ti&#7871;p theo c&#7911;a Bitcoin, cho th&#7845;y r&#7857;ng ch&igrave;a kh&oacute;a &#273;&#7875; hi&#7875;u t&#432;&#417;ng lai c&#7911;a BTC kh&ocirc;ng n&#7857;m &#7903; m&atilde; c&#7911;a n&oacute;, m&agrave; &#7903; d&ograve;ng ch&#7843;y c&#7911;a v&#7889;n to&agrave;n c&#7847;u.

Bitcoin giảm hơn 13% trong một tuần: Tại sao Trung Quốc có thể là chìa khóa cho đợt tăng giá tiếp theo?

Bitcoin (BTC) ti&#7871;p t&#7909;c &#273;&#7889;i m&#7863;t v&#7899;i nh&#7919;ng kh&oacute; kh&#259;n t&#7915; th&#7883; tr&#432;&#7901;ng, v&#7899;i gi&aacute; gi&#7843;m 13.3% trong tu&#7847;n qua v&agrave; m&#7845;t c&aacute;c m&#7913;c h&#7895; tr&#7907; quan tr&#7885;ng.
Tuy nhi&ecirc;n, ph&acirc;n t&iacute;ch g&#7847;n &#273;&acirc;y cho th&#7845;y r&#7857;ng thanh kho&#7843;n m&#7903; r&#7897;ng c&#7911;a Trung Qu&#7889;c &mdash; thay v&igrave; c&#7911;a Hoa K&#7923; &mdash; c&oacute; th&#7875; s&#7899;m tr&#7903; th&agrave;nh &#273;&#7897;ng l&#7921;c th&uacute;c &#273;&#7849;y &#273;&#7907;t t&#259;ng gi&aacute; l&#7899;n ti&#7871;p theo c&#7911;a Bitcoin.
<h2 class="bic-gutenberg-heading wp-heading wp-block-heading">Bitcoin &#273;&#7889;i m&#7863;t v&#7899;i &aacute;p l&#7921;c, nh&#432;ng thanh kho&#7843;n m&#7903; r&#7897;ng c&#7911;a Trung Qu&#7889;c c&oacute; th&#7875; th&uacute;c &#273;&#7849;y &#273;&#7907;t t&#259;ng gi&aacute; ti&#7871;p theo</h2>

<a href="https://vn.beincrypto.com/trump-china-tariff-triggers-200-billion-crypto-crash/" target="_blank" rel="noreferrer noopener">BeInCrypto &#273;&atilde; b&aacute;o c&aacute;o r&#7857;ng</a> s&#7921; s&#7909;t gi&#7843;m c&#7911;a th&#7883; tr&#432;&#7901;ng ti&#7873;n &#273;i&#7879;n t&#7917; tu&#7847;n tr&#432;&#7899;c &#273;&atilde; khi&#7871;n BTC gi&#7843;m xu&#7889;ng m&#7913;c th&#7845;p kho&#7843;ng 107,000 USD. M&#7863;c d&ugrave; c&oacute; m&#7897;t s&#7921; ph&#7909;c h&#7891;i nh&#7865; sau &#273;&oacute;, nh&#432;ng &#273;&#7897;ng l&#7921;c &#273;&atilde; gi&#7843;m <a href="https://beincrypto.com/learn/what-causes-bitcoins-volatility" target="_blank" rel="noreferrer noopener">m&#7897;t l&#7847;n n&#7919;a.</a>
Th&#7921;c t&#7871;, trong 24 gi&#7901; qua, &#273;&#7891;ng ti&#7873;n &#273;i&#7879;n t&#7917; l&#7899;n nh&#7845;t &#273;&atilde; gi&#7843;m 4.85%. T&#7841;i th&#7901;i &#273;i&#7875;m vi&#7871;t b&agrave;i, n&oacute; <a target="_blank" href="https://vn.beincrypto.com/bitcoin-price-drop-below-100000-analysis/" rel="noreferrer noopener">&#273;&#432;&#7907;c giao d&#7883;ch &#7903; m&#7913;c 105,317 USD</a>.
<img style="height:400px;width:640px;"decoding="async" alt="Bitcoin (BTC) Price Performance" class="wp-image-762132 lazy" loading="lazy" src="https://assets.beincrypto.com/img/Mo3K3kyNi8awSQVO1JA1hpgjOWM=/smart/699fa3b13c2f49c487d68c962b0bd165">Hi&#7879;u su&#7845;t gi&aacute; Bitcoin (BTC). Ngu&#7891;n: <a href="https://beincrypto.com/price/bitcoin/" target="_blank" rel="noreferrer noopener">BeInCrypto Markets</a>

&#272;&#7891;ng th&#7901;i, cung ti&#7873;n M2 c&#7911;a M&#7929; &#273;&atilde; duy tr&igrave; &#273;i ngang trong v&agrave;i tu&#7847;n. L&#7883;ch s&#7917; cho th&#7845;y gi&aacute; Bitcoin c&oacute; <a target="_blank" href="https://vn.beincrypto.com/m2-money-supply-btc-correlation/" rel="noreferrer noopener">m&#7889;i t&#432;&#417;ng quan v&#7899;i s&#7921; t&#259;ng tr&#432;&#7903;ng c&#7911;a M2</a> &mdash; khi thanh kho&#7843;n m&#7903; r&#7897;ng, BTC th&#432;&#7901;ng h&#432;&#7903;ng l&#7907;i. Tuy nhi&ecirc;n, v&#7899;i s&#7921; &#273;&igrave;nh tr&#7879; hi&#7879;n t&#7841;i, tri&#7875;n v&#7885;ng ng&#7855;n h&#7841;n cho Bitcoin c&oacute; v&#7867; &#7843;m &#273;&#7841;m.
M&#7863;c d&ugrave; v&#7853;y, Joao Wedson, ng&#432;&#7901;i s&aacute;ng l&#7853;p Alphractal, cho r&#7857;ng Bitcoin c&oacute; th&#7875; l&#7845;y l&#7841;i &#273;&#7897;ng l&#7921;c <a target="_blank" href="https://vn.beincrypto.com/digital-asset-fund-inflows-record-2025/" rel="noreferrer noopener">t&#7915; ph&#432;&#417;ng &#272;&ocirc;ng</a>, n&#417;i thanh kho&#7843;n c&#7911;a Trung Qu&#7889;c ti&#7871;p t&#7909;c t&#259;ng m&#7841;nh. &Ocirc;ng l&#432;u &yacute; r&#7857;ng cung ti&#7873;n M2 c&#7911;a Trung Qu&#7889;c &#273;&atilde; ph&igrave;nh to h&#417;n g&#7845;p &#273;&ocirc;i so v&#7899;i M&#7929;, m&#7903; r&#7897;ng kho&#7843;ng c&aacute;ch l&ecirc;n &#273;&#7871;n 24.9 ngh&igrave;n t&#7927; USD.
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&ldquo;Hi&#7879;n t&#7841;i, cung ti&#7873;n M2 c&#7911;a Trung Qu&#7889;c l&#7899;n h&#417;n 2.1 l&#7847;n so v&#7899;i c&#7911;a Hoa K&#7923;. Trong khi M2 c&#7911;a M&#7929; &#273;&atilde; &#273;i ngang trong nhi&#7873;u tu&#7847;n, M2 c&#7911;a Trung Qu&#7889;c ti&#7871;p t&#7909;c t&#259;ng kh&ocirc;ng ng&#7915;ng &mdash; hi&#7879;n cao h&#417;n M&#7929; 24.9 ngh&igrave;n t&#7927; USD,&rdquo; &ocirc;ng vi&#7871;t.
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Theo Wedson, c&aacute;c m&ocirc; h&igrave;nh l&#7883;ch s&#7917; cho th&#7845;y m&#7897;t m&#7889;i t&#432;&#417;ng quan r&otilde; r&agrave;ng. M&#7895;i khi M2 c&#7911;a Trung Qu&#7889;c v&#432;&#7907;t qua M&#7929;, <a target="_blank" href="https://vn.beincrypto.com/crypto-market-sentiment-shifts-to-extreme-fear/" rel="noreferrer noopener">gi&aacute; Bitcoin t&#259;ng l&ecirc;n.</a>
H&#417;n n&#7919;a, s&#7921; &#7893;n &#273;&#7883;nh trong t&#7927; l&#7879; n&agrave;y &#273;&atilde; t&#432;&#417;ng &#7913;ng v&#7899;i s&#7921; di chuy&#7875;n ngang c&#7911;a t&agrave;i s&#7843;n. D&#7845;u hi&#7879;u n&agrave;y, m&agrave; gi&aacute;m &#273;&#7889;c &#273;i&#7873;u h&agrave;nh g&#7885;i l&agrave; t&iacute;n hi&#7879;u &lsquo;macro alpha&rsquo;, &#273;&atilde; t&aacute;i di&#7877;n qua c&aacute;c chu k&#7923; th&#7883; tr&#432;&#7901;ng, cho th&#7845;y d&ograve;ng v&#7889;n t&#7915; Trung Qu&#7889;c c&oacute; th&#7875; b&#417;m nhu c&#7847;u c&#7845;u tr&uacute;c v&agrave;o th&#7883; tr&#432;&#7901;ng Bitcoin.
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&ldquo;H&atilde;y nh&#7899; r&#7857;ng, Trung Qu&#7889;c t&#7915;ng th&#7889;ng tr&#7883; vi&#7879;c khai th&aacute;c Bitcoin cho &#273;&#7871;n n&#259;m 2021, khi l&#7879;nh &lsquo;c&#7845;m&rsquo; x&#7843;y ra &mdash; m&agrave; h&atilde;y th&agrave;nh th&#7853;t, n&oacute; ch&#432;a bao gi&#7901; tuy&#7879;t &#273;&#7889;i. V&#7851;n c&ograve;n nhi&#7873;u th&#7907; m&#7887; v&agrave; c&aacute; voi OG Trung Qu&#7889;c ho&#7841;t &#273;&#7897;ng tr&ecirc;n th&#7883; tr&#432;&#7901;ng. Mi&#7877;n l&agrave; M2 c&#7911;a Trung Qu&#7889;c ti&#7871;p t&#7909;c t&#259;ng, thanh kho&#7843;n to&agrave;n c&#7847;u c&oacute; kh&#7843; n&#259;ng ti&#7871;p t&#7909;c &#7911;ng h&#7897; Bitcoin,&rdquo; Wedson b&#7893; sung.
</blockquote>

<img style="height:400px;width:640px;"decoding="async" alt="BITCOIN CHINA M2" class="wp-image-762106 lazy" loading="lazy" src="https://assets.beincrypto.com/img/SIQ078k_SGqt7DJiS1SBdY5urPQ=/smart/877162f10aa142e89ad1b0a5aa4b62f4">M&#7889;i t&#432;&#417;ng quan gi&#7919;a M2 c&#7911;a Trung Qu&#7889;c v&agrave; BTC. Ngu&#7891;n: <a href="https://x.com/joao_wedson/status/1978844791816564940" target="_blank" rel="noreferrer noopener nofollow">X/joao_wedson</a>

Trong khi &#273;&oacute;, nh&agrave; ph&acirc;n t&iacute;ch Shanaka Anslem Perera c&#361;ng nh&#7845;n m&#7841;nh r&#7857;ng Bitcoin &#273;&atilde; b&#432;&#7899;c v&agrave;o m&#7897;t giai &#273;o&#7841;n m&#7899;i. H&agrave;nh &#273;&#7897;ng gi&aacute; c&#7911;a n&oacute; ng&agrave;y c&agrave;ng g&#7855;n li&#7873;n v&#7899;i c&aacute;c chu k&#7923; thanh kho&#7843;n kinh t&#7871; v&#297; m&ocirc;, kh&ocirc;ng ph&#7843;i l&#7883;ch tr&igrave;nh gi&#7843;m m&#7897;t n&#7917;a &#273;&atilde; &#273;&#432;&#7907;c l&#7853;p tr&igrave;nh.
<blockquote class="max-w-xl text-4.5 border-l-2 border-blue-600 pl-11 mb-9 select-all [&amp;_p]:!mb-0 wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
&ldquo;Bitcoin &#273;&atilde; chuy&#7875;n t&#7915; halving beta &rarr; liquidity beta. BTC kh&ocirc;ng c&ograve;n giao d&#7883;ch theo block clock &hellip; n&oacute; giao d&#7883;ch theo &#273;&#432;&#7901;ng cong thanh kho&#7843;n. &#272;&#7881;nh v&agrave; &#273;&aacute;y kh&ocirc;ng &#273;&#432;&#7907;c thi&#7871;t l&#7853;p b&#7903;i c&aacute;c &#273;&#7907;t gi&#7843;m m&#7897;t n&#7917;a; ch&uacute;ng &#273;&#432;&#7907;c thi&#7871;t l&#7853;p b&#7903;i c&aacute;c ng&acirc;n h&agrave;ng trung &#432;&#417;ng. Si&ecirc;u chu k&#7923; ti&#7871;p theo k&#7871;t th&uacute;c kh&ocirc;ng ph&#7843;i khi ngu&#7891;n cung gi&#7843;m m&#7897;t n&#7917;a&hellip; m&agrave; khi thanh kho&#7843;n gi&#7843;m,&rdquo; &ocirc;ng <a href="https://x.com/shanaka86/status/1976673905541849499" target="_blank" rel="noreferrer noopener nofollow">ph&aacute;t bi&#7875;u</a>.
</blockquote>

V&igrave; v&#7853;y, v&#7899;i vi&#7879;c thanh kho&#7843;n c&#7911;a Trung Qu&#7889;c m&#7903; r&#7897;ng, tr&#7885;ng t&acirc;m cho &#273;&#7897;ng th&aacute;i ti&#7871;p theo c&#7911;a Bitcoin c&oacute; th&#7875; &#273;ang chuy&#7875;n v&#7873; ph&iacute;a &#273;&ocirc;ng. N&#7871;u c&aacute;c m&#7889;i t&#432;&#417;ng quan l&#7883;ch s&#7917; &#273;&#432;&#7907;c gi&#7919; v&#7919;ng, M2 t&#259;ng c&#7911;a Trung Qu&#7889;c v&agrave; &#273;i&#7873;u ki&#7879;n t&iacute;n d&#7909;ng n&#7899;i l&#7887;ng c&oacute; th&#7875; &#273;&#7863;t n&#7873;n t&#7843;ng cho &#273;&#7907;t t&#259;ng gi&aacute; l&#7899;n ti&#7871;p theo c&#7911;a Bitcoin, cho th&#7845;y r&#7857;ng ch&igrave;a kh&oacute;a &#273;&#7875; hi&#7875;u t&#432;&#417;ng lai c&#7911;a BTC kh&ocirc;ng n&#7857;m &#7903; m&atilde; c&#7911;a n&oacute;, m&agrave; &#7903; d&ograve;ng ch&#7843;y c&#7911;a v&#7889;n to&agrave;n c&#7847;u.