TechFlow reported that according to Coindesk, the latest report released by 10X Research shows that since the Federal Reserve cut interest rates in mid-September and China launched a stimulus plan, Bitcoin's strong rise has enabled it to break out of the downward trend. As Bitcoin breaks through $65,000, 10x Research expects it to quickly rise to $70,000 and then set a new record high in the short term.

Markus Thielen, founder of 10X Research, said that the amount of stablecoin minting increased sharply after the Fed's July meeting, when the Fed announced at the meeting that interest rates would remain unchanged, but hinted that policy easing might be possible in September. In the following weeks, the amount of stablecoin minting was close to $10 billion, injecting liquidity into the cryptocurrency market and significantly exceeding the spot ETF flow. It is particularly noteworthy that Circle's USDC accounts for 40% of the recent stablecoin inflows, which is much higher than normal, as USDC minting may indicate an increase in DeFi activity.

Markus concluded that the market is very likely to rise strongly in Q4, and now may be the early stage of the rise, and a sharp rise may be imminent, thus triggering more FOMO in the cryptocurrency field.