Escaped the 🐀 Race (Retired at 39) Family | Bitcoin | Freedom Maxi | Check out https://xitter.cf/t.co/vV2M2WKfD1 the best tools ⚒️ for Bitcoiners.
Cyber Manhattan
Joined May 2017
- Tweets135K
- Following5K
- Followers16.2K
- Likes412K
China's stock market is falling because of a mix of an AI hangover and long-running economic problems. Here's the background:
What happened today (Oct 22):
•The CSI 300, China's main index of its 300 largest stocks, fell into a bear market. It's now down more than 20% from its June peak, the first time since the 2020 COVID crash.
•This is its 10th straight losing week, which is where the "headed towards 11 red weeks" line comes from.
•Tech got hit hardest. The STAR 50 (China's Nasdaq-style tech index) is down about 40%, and ChiNext (a growth-company board) is down 36%. Chip names like MetaX and Moore Threads have lost about half their value.
•Bloomberg puts the total losses at about $2.4 trillion.
Why it's happening:
1The AI trade is unwinding. Investors are questioning whether the huge spending on AI infrastructure will ever earn enough to justify it. Chinese AI and chip stocks ran up the most, so they're falling the hardest. Mixed US tech earnings overnight made it worse: Tesla cut its spending forecast.
2Hopes for government stimulus are fading. Beijing's big September 2024 stimulus sparked a rally, and that rally is now almost completely erased in Hong Kong tech.
3The problems underneath never went away:
◦The property market is still in a multi-year slump.
◦Consumers aren't spending.
◦Factories are overbuilt, so price wars are crushing profits, even in sectors where China leads, like EV batteries.
4There's pressure from outside China too. Oil is back above $100 (WTI) and $112 (Brent), the highest since May. The US 10-year Treasury yield is above 5%.
This isn't just China: Japan's Nikkei fell about 3%, Korea's Kospi 3.5%, Hong Kong 3% and Taiwan 2%. Nasdaq futures dropped almost 2%, and gold slipped below $4,100.
Bitcoin gave up $84K and dipped toward $82K with everything else.
There is only one way out….. Print Baby Print. Stack accordingly ⚡️
AA ⚡️ retweeted
Fidelity just put out research calling Bitcoin perpetual preferreds the newest demand catalyst for BTC
136K BTC bought with preferred proceeds since July 2025
That's 0.5%+ of the total supply in about a year
$12B raised so far, out of a $150T fixed income market
Spot ETPs absorbed 888K BTC in their first year. The preferreds are smaller, but they're pulling from a much bigger pool: income investors who will never buy spot BTC.
That opens a second door to Bitcoin, and it's built for yield buyers.
96% of all BTC is already mined.
Check the Full Fidelity Digital Assets report 👇
A new BTC demand driver is emerging.
Our latest research piece from analyst Zack Wainwright examines the rise of perpetual preferred stocks -- another transparent demand driver we can observe for BTC.
He puts their growth in the context of Bitcoin ETPs, examines why they may appeal in a world of expanding fiat and debt, and closes with a comparison to the Pyramids of Giza to illustrate the market's potential scale.
fidelitydigitalassets.com/re…
