Bitcoin Holds Above $64K as China Stimulus Sends Conflux’s CFX, Dog Memes Running High
Summary
Shiba Inu (SHIB) and Bonk (BONK) experienced double-digit gains, while Conflux's CFX rose over 18% amid a liquidity injection from China's central bank. The market is in a rotation phase, focusing on altcoins, particularly those linked to China, such as CFX and PHB. Improving funding rates signal market recovery, with meme coins gaining traction in the Solana and Bitcoin ecosystems. Shiba Inu and Floki surged up to 15%, while Bonk led with a 17% increase. Bitcoin (BTC) rose 3%, trading above $65K, with U.S. spot bitcoin ETFs seeing significant inflows of $365 million, primarily into ARK's ARKB ETF. In contrast, ETH ETFs faced outflows of nearly $675,000, with Ether (ETH) up 4% over the week.
