China Eases Monetary Policy; Bitcoin Dips Below $63K Amid Consumer Confidence Decline

On September 25, 2024, China announced a monetary policy easing, joining other major economies to address economic slowdown, which briefly boosted the Shanghai Composite by over 4%. However, Bitcoin's price fell below $63,000 following a significant drop in U.S. consumer confidence, with the Conference Board's index plummeting from 105.6 to 98.7—the steepest decline since August 2021. This dip reflects growing consumer pessimism regarding current business conditions and future labor market expectations.