### Bitcoin Surges Past $65,000 Following Federal Reserve Rate Cut and China Stimulus

A recent report by 10X Research highlights significant gains for Bitcoin, primarily attributed to the U.S. Federal Reserve's mid-September rate cut and strategic economic measures from China. Markus Thielen, an analyst at 10X Research, explores these developments in a new report titled "FOMO is Back: Are You Holding Enough Bitcoin and Altcoins to Ride the New Wave?"

According to Thielen, Bitcoin's impressive climb to over $65,000 signals the end of its previous downtrend. He predicts a rapid escalation towards the $70,000 mark and anticipates new all-time highs in the near future.

The analyst also pointed out a notable surge in stablecoin minting following the Fed's July meeting, where the decision to leave rates unchanged hinted at a potential rate cut in September. This led to nearly $10 billion in stablecoin issuance in the weeks that followed, bringing significant liquidity into the crypto markets, far outpacing spot ETF flows.

A key detail in Thielen's analysis is the disproportionate recent inflow of Circle’s USDC compared to Tether’s USDT. USDC accounted for 40% of these inflows, a much higher share than usual. Thielen suggests this shift is crucial as USDC minting might be tied to increased activity in decentralized finance (DeFi), unlike USDT which is frequently associated with capital preservation through its issuance on the TRON network.

Furthermore, China’s monetary and fiscal stimulus measures, announced soon after the Fed's rate cut, are also playing a critical role. Thielen noted that 55% of newly mined bitcoins come from Chinese mining pools. He suggests that the monetary ease could spark substantial capital outflows from China, flowing into cryptocurrencies.

Thielen concludes with a bullish outlook, asserting that the probability of a significant rally in the fourth quarter is exceptionally high, likely with initial gains being front-loaded. He predicts that this surge could ignite further FOMO (Fear of Missing Out) within the crypto space.

Currently, Bitcoin has risen by 2.3% in the past 24 hours and is up nearly 12% month-over-month, reaching $66,300—its highest level since late July.