China's recent stimulus measures and the US Federal Reserve's rate cut in mid-September have pulled Bitcoin out of its downward trend, according to 10X Research.
- Bitcoin has surpassed $65,000 and could reach $70,000, analyst Markus Thielen predicts.
- Stablecoin issuance has surged since the Fed's July meeting, especially USDC.
- Chinese measures could trigger significant capital outflows into cryptocurrencies.
- A rally in the fourth quarter is likely, Thielen says.