Bitcoin News Today: ETF Era Faces a Test From China’s Credit Slowdown

China’s credit slowdown is creating headwinds that could reduce risk-on flows into global markets, including demand for the new spot Bitcoin ETFs. That dynamic tests the resilience of the ETF era by challenging whether ETFs can sustain inflows and price support amid weaker liquidity and investor risk appetite tied to China. Implication for Bitcoin: ETF-driven demand may be more exposed to global credit cycles than assumed, increasing the risk of short-term outflows and heightened volatility if China’s slowdown intensifies.