TechFlow news, according to Coindesk, citing a recent report from 10X Research, Bitcoin's strong rally since the Fed's mid-September rate cut and China's stimulus rollout has pushed it out of its downtrend. With Bitcoin breaking above $65,000, 10X Research expects a swift rise to $70,000, followed by new all-time highs in the near term.
Markus Thielen, founder of 10X Research, noted that stablecoin issuance surged after the Fed's July meeting, when rates were held steady but policymakers signaled a potential easing in September. In the following weeks, stablecoin minting approached $10 billion, injecting liquidity into the crypto market and significantly surpassing spot ETF inflows. Notably, Circle’s USDC accounted for 40% of recent stablecoin inflows—a much higher share than usual—suggesting a potential rise in DeFi activity.
Markus concluded that a strong Q4 rally is highly likely, and the current phase may represent just the early stage of an imminent significant upward move, potentially triggering further FOMO across the crypto space.
