Did China do something that made the Chinese people start buying? Or what?
China for the moment is letting Hong Kong doing their "crypto experiments", and that's a very good news, but not enough to bring the price again at $30k. This is the classic "buy the rumor" because several big funds, especially BlackRock, are applying for bitcoin spot ETFs, and if they will get approved it would be a huge news!
I think this is more than buy the news sell the rumor, today is June 29th and Bitcoin is still trading at 30k and counting, the fact is big institutions were all holding back before because of the denial of all ETFs in the past and today a new hope is shinning right on top of ETF, it looks like they will be approved soon and one already passed the test so yes it's enough to make the market bullish, I believe this is just the beginning, those who still waits for 10k Bitcoin will never see any buying and selling orders at that price range.