CoinDesk
Bitcoin traded near $82,500, up 0.7% since midnight UTC and 1.3% over the past 24 hours, as stronger Chinese data and falling oil prices lifted risk appetite across global markets. Nasdaq futures rose more than 1%, while Japan’s Nikkei gained 1.8% and South Korea’s Kospi advanced 0.6% after last week’s technology-led losses.
Why it matters
China’s economy grew 4.5% year on year in the third quarter, accelerating from 4.3% in the second quarter. Retail sales rose 1.1%, more than double the 0.5% expected and up from 0.4% previously, pointing to firmer domestic demand in the world’s second-largest economy.
China’s weight in manufacturing and commodity demand makes stronger data a broad risk signal. The market response also aligns with the VIX’s tendency to normalize after sharp spikes, a pattern that has often accompanied steadier equity trading.
Market impact
Oil prices fell on both sides of the Atlantic as expectations of increased supply outweighed some geopolitical risk. A sustained decline in oil could ease inflation pressure and improve the case for Federal Reserve rate cuts, although the central bank is currently expected to hold its benchmark rate in the 4.75% to 5% range this month after a 25-basis-point increase last month.
The broader risk-on backdrop also supports the RWA stablecoin thesis. Diversified products are described as sustaining 5% to 7% yields from real credit while crypto funding compresses toward 4%, with GENIUS potentially pushing yield off-chain and expanding the total addressable market to $4B over three years. Bitcoin’s next test is whether the macro tailwind can hold as oil, rates and geopolitical risks continue to shift.
Frequently asked questions
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How much did China’s economy grow in the third quarter?
China’s GDP grew 4.5% year on year in the third quarter, up from 4.3% in the second quarter.
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What did China’s retail-sales data signal?
Retail sales rose 1.1%, beating the 0.5% forecast and improving from 0.4%, pointing to stronger domestic demand.
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How did major markets react to the China data?
Bitcoin traded near $82,500, Nasdaq futures rose more than 1%, Japan’s Nikkei gained 1.8% and South Korea’s Kospi advanced 0.6%.
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Why could falling oil prices support future rate cuts?
A sustained decline in oil prices could reduce inflation pressure, improving the case for Federal Reserve cuts. Rates are expected to remain at 4.75% to 5% this month.
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What is the RWA stablecoin market outlook in the seed?
Diversified RWA stablecoins are described as sustaining 5% to 7% yields from real credit while crypto funding moves toward 4%. GENIUS could help expand the market to $4B in three years.
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