According to Eric Balchunas, China's National Team purchased an estimated $32 billion in ETFs during April 2025, an intervention equivalent to the US Fed buying $500 billion, aimed at propping up the stock market amid escalating tariff tensions (source: Eric Balchunas, Twitter, June 3, 2025). The aggressive government intervention, coupled with bans on stock sales, signals significant market support mechanisms. For crypto traders, these interventions may reduce volatility in Chinese equities but could also push investors toward alternative assets like Bitcoin and Ethereum if confidence in equity market transparency wanes. Crypto market participants should monitor capital flow changes between traditional and digital asset markets as these government actions may indirectly impact liquidity and sentiment (source: Eric Balchunas, Twitter, June 3, 2025).