$BTC is poised for a potential surge to $70K, thanks to global monetary easing led by the U.S. Federal Reserve and China’s central bank, the People’s Bank of China (PBoC). Recently, the PBoC announced a 50 basis-point cut in reserve requirement ratios, releasing about 1 trillion Yuan for lending, sparking optimism across global markets. This move follows similar actions by the Fed and other central banks, setting the stage for increased liquidity. QCP Capital and other experts see this as a "pivotal moment" for markets, with Bitcoin standing to benefit as risk-on assets attract fresh capital.

Despite the favorable macro backdrop, Bitcoin's price remains stable around $63,000, but traders are optimistic that the influx of liquidity will eventually push it higher. Dan Tapiero, CEO of 10T Holdings, highlighted China’s decision as a "huge macro event," predicting increased liquidity for both Bitcoin and gold. With central banks around the world easing monetary policy, the conditions are ripe for Bitcoin to break out, with many now eyeing $70K as the next key price target.