BTC Price Holds Steady as China Rate Cut Fails to Encourage Risk Taking

The Australian dollar, which is sensitive to the Chinese economy due to the strength of trade ties between the two countries, fell 0.7% against the U.S. dollar, and China’s benchmark equity index, CSI, traded flat to negative. MSCI’s broadest index of Asia-Pacific shares outside Japan fell more than 0.5% and S&P 500 futures traded 0.3% lower.