Bitcoin (BTC) reached a two-month high on China’s economic stimulus measures. BTC/USD rose to $66,194 on Bitstamp, according to Cointelegraph Markets Pro and TradingView data. The rally was supported by the Shanghai Composite Index having its best week since 2008. Kobeissi Letter described the situation as “frighteningly familiar.”

The US PCE Index came in as expected, with the market expecting a 50 basis point rate cut at the next Fed meeting in November. Skew called the PCE results “very good” for market performance.

Bitcoin is holding onto the $65,000 support level, while passive buyers continue to enter the market. DecenTrader co-founder Filbfilb said BTC has a “very familiar bullish smell.”

Do you think Bitcoin’s rally will continue? We’re waiting for your comments.