Prominent cryptocurrency researcher Qiao Wang from Alliance has brought a sigh of relief to the community in a new post on X.

The onset of easing cycles from the world's two largest economies, the US and China, could create strong macro conditions for a cryptocurrency rally, he said.

“We're going to skyrocket in the next few months,” he said.

According to Wang, both countries' return to quantitative easing (QE) would lower interest rates and increase money supply, helping to boost lending.

Wang also commented that “the chart is looking positive.”

Over the past month, Bitcoin (BTC) has gained nearly 10%, overcoming the notion that “Bitcoin hates September,” although market sentiment remains skeptical.

For the first time in 19 years, the People's Bank of China has conducted a government bond transaction worth 100 billion yuan ($14.1 billion).

In the US, the Federal Reserve cut interest rates for the first time since July 2023, to 5%.

Bitcoin's bullish momentum remains strong

The amount of capital invested in Bitcoin spot ETFs surpassed the $1 billion mark for the first time, reaching $1.11 billion.

Bitcoin's breakout above $65,000 could be a precursor to a Q4 bull run, says Markus Thielen of 10x Research.

He believes this could spark a wave of FOMO, pushing Bitcoin to $70,000 and setting the stage for new highs.

“The possibility of a Q4 breakout is very high. FOMO is back in the altcoin market, thanks to Bitcoin’s breakout above $65,000. A big rally could be coming, further fueling FOMO in the crypto space,” he stressed.