BlockBeats news, on September 28th, according to the latest report released by 10X Research, the strong rise of Bitcoin has helped it break out of its downward trend since the Federal Reserve cut interest rates in mid September and China's stimulus plan. As Bitcoin breaks through $65000, 10x Research expects it to quickly rise to $70000 and then reach a historic high in the short term.
Markus Thielen, founder of 10X Research, stated that there has been a sharp increase in stablecoin minting since the Federal Reserve's July meeting. At the meeting, the Fed announced that interest rates would remain unchanged, but hinted at the possibility of policy easing in September. In the following weeks, the stablecoin minting volume approached $10 billion, injecting liquidity into the cryptocurrency market and significantly exceeding the flow of spot ETFs. Of particular note is that Circle's USDC accounts for 40% of recent stablecoin inflows, a much higher proportion than normal, as the minting of USDC may indicate an increase in DeFi activity.
Markus concluded that there is a high possibility of a strong market rally in Q4, and it may be in the early stages of the uptrend. A significant increase may be imminent, triggering more FOMO in the cryptocurrency sector.
