Why Bitcoin Price Surges to $63,000 Today?
Why Bitcoin Price Surges to $63,000 Today? Why Bitcoin Price Surges to $63,000 Today?
Bitcoin price surged above $63,000 today, hitting a daily high of $63,400 before settling at around $63,000.
This 3% rise over the past 24 hours reflects a strong performance compared to other altcoins, which have seen slight gains and upside.
Reasons for Bitcoin Surge:
Mt. Gox Deferral: The Mt. Gox Rehabilitation Authority announced that it will defer the maturity date from October 31, 2024 to October 31, 2025, easing potential selling pressure on Bitcoin, as large quantities will not be available for sale in the market anytime soon.
China's fiscal stimulus package:
China unveiled a fiscal stimulus package to support low-income households and boost real estate markets and state-owned banks, which helped improve market sentiment. The announcement was expected and has pushed the market higher in the past few days.
These two factors have helped support Bitcoin and boost its market value in the past two days.
