10x Research: Bitcoin is expected to quickly rise to $70,000, and then set a new all-time high in the short term

ChainCatcher news, 10x Research released a report stating that since the Federal Reserve cut interest rates in September, Bitcoin has risen by 5%, while Ethereum has surged by 11%, and altcoins are experiencing explosive growth. With the acceleration of stablecoin minting, Chinese over-the-counter brokers report billions of dollars in inflows, suggesting further upside potential. As Bitcoin breaks through $65,000, we expect it to quickly rise to $70,000, followed by setting a new all-time high in the short term.

Driven by increased global liquidity, China's $278 billion stimulus plan could ignite a parabolic rebound in cryptocurrency prices. If Trump is re-elected, he may seek to excessively stimulate the U.S. economy, potentially forcing the Federal Reserve to reverse the rate-cutting cycle as early as the first half of 2025.

It indicates that the target for the next two weeks is $70,000, with hopes of setting a new all-time high before the end of October.