<div id="readability-page-1"><div>With Bitcoin BTC/USD breaking above $66,000, 10x Research predicts a swift move towards $70,000 and new all-time highs, fueled by stablecoin minting, monetary stimulus in China and renewed altcoin activity.What Happened: The 10x Research analysts led by Markus Thielen highlighted in their latest report that since the Federal Reserve's September rate cut, Bitcoin and Ethereum ETH/USD have surged 5% and 11%, respectively. Some altcoins also experienced more impressive gains like Ethena ENA/USD, Sei SEI/USD and Shiba Inu SHIB/USD reported gains of 54%, 51%, and 36%, respectively.The analysts point out several factors driving the uptrend:Stablecoin MintingThe uptrend is supported by accelerating stablecoin minting, with nearly $10 billion issued in recent weeks, surpassing Bitcoin ETF flows.Circle, the company behind USDC and known for catering to regulated institutions, has accounted for 40% of recent stablecoin inflows, signaling increased interest from larger market players. Year-to-date, stablecoin inflows have reached $35 billion, pushing the total value of outstanding stablecoins to $160 billion.Altcoin Activity SpikeThe report highlights aDeFi renaissance followed a drop in bond yields, with Aave‘s AAVE/USD lending platform fees reaching $43 million in August, surpassing the previous peak of $42 million in March 2024. Bitcoin’s dominance has waned post-FOMC meeting, while Ethereum gas fees have spiked due to increased altcoin activity.<figure><img width="300" height="250" src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" original-src="https://imageproxy.pbkrs.com/https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif"/></figure>Also Read: Bitcoin Is 97% Sure To Close The Month Above $60K—But What Are The Chances It Even Hits $70K?Retail TradingRetail crypto trading in South Korea has seen daily volumes of around $2 billion, with Shiba Inu reclaiming the top spot in trading volume, signaling rising speculation. Chinese over-the-counter brokers have reported consistent quarterly inflows of $20 billion for the last six quarters, totaling around $120 billion.China Stimulus PlanThe report suggests that the $278 billion Chinese stimulus plan, combined with potential capital outflows from China, could trigger a “parabolic rally” in cryptocurrency prices. 10x Research predicts Bitcoin will reach $70,000 in the next two weeks, with new all-time highs expected by late October.Interestingly, this surge coincides with Bitcoin’s 30-day realized volatility dropping to 41%, potentially allowing institutional traders to take larger positions. The report concludes that the likelihood of a Q4 rally is “exceptionally high,” with gains likely front-loaded and FOMO returning to the altcoin market.What’s Next: The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19.Read Next: <ul><li>Bitcoin Shines As Hedge Against ‘Major Geopolitical Events,’ Says Research Firm</li></ul>Image </div></div>

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10x Research predicts Bitcoin could surge towards $30,000, driven by stablecoin minting, Chinese monetary stimulus, and renewed altcoin activity. Following the Federal Reserve's September rate cut, Bitcoin and Ethereum saw gains of 5% and 11%, respectively. Stablecoin inflows have reached $20 billion this year, with significant contributions from Circle. The report highlights a resurgence in DeFi activity and retail trading, particularly in South Korea. Analysts anticipate a potential rally in cryptocurrency prices due to a $1 trillion Chinese stimulus plan, with Bitcoin expected to hit $30,000 in the next two weeks.

- Bitcoin has surpassed $66,000, with 10x Research predicting a rise to $70,000 driven by stablecoin minting, Chinese monetary stimulus, and increased altcoin activity.  
- Analysts noted that stablecoin inflows have reached $35 billion this year, while altcoins like Ethena and Shiba Inu saw significant gains.  
- The report anticipates a potential "parabolic rally" in cryptocurrency prices, with Bitcoin expected to hit new all-time highs by late October.

Bitcoin Could Sail To $70K On The Tailwinds Of Stablecoin Minting, Chinese Stimulus, Renewed Altcoin Activity: 10x Research