Bitcoin nears $65,000 as Chinese stocks rally

Bitcoin approached $65,000 after Chinese stocks shrugged off mixed reactions to stimulus plans to end the day higher.

The broader digital asset market, as measured by the CD20, is up around 2.9%.

The latest announcements from the Chinese government on stimulus plans fell short of expectations, but the Shanghai Composite Index closed the day up more than 2%. “Chinese stocks have recovered from weekend disappointments, so risk sentiment will likely remain in ‘buy all’ mode until further notice,” said Augustine Fan, head of information at SOFA.

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