In recentdays, the priceof a Bitcoin has been about 3 percent higher on these exchanges than on dollardenominated exchanges, suggesting more demand in Chinathanoutside.
Previous rounds of stimulus have weighed on the dollar, helping to strengthened the oil price, because it made the dollar-denominated commodity cheaper for holders of other currencies.
The price of all US dollar-denominated commodities like gold change daily to reflect the fact that it requires more or fewer dollars to buy that commodity, vis a vis other world currencies.
Because most American Bitcoin vendors automatically adjust their prices to the current dollar-Bitcoin exchange rate, Bitcoin-denominated prices would quickly fall to reflect the new, higher Bitcoin price.