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Bitcoin 
$104,910 gained value this week, surpassing the $65,000 mark. This increase can be attributed to the expanding stock market, favorable U.S. employment data, and China’s economic stimulus measures.
Rally in the Stock Market
The rise in Bitcoin is influenced by the overall rally in the stock market. Positive employment data from the U.S. has bolstered investor confidence, supporting market growth.
China’s Economic Stimulus Measures
China has lowered interest rates and increased bank liquidity to revitalize its economy. Additionally, measures like housing incentives and the establishment of a stock stability fund are being implemented to combat deflation.
“China will provide over 1 trillion yuan in liquidity by reducing the reserve requirement ratio by 50 basis points,” stated the People’s Bank of China.
Relationship Between Bitcoin and Global Liquidity
There is a strong long-term correlation between Bitcoin and global liquidity. This correlation indicates that as liquidity expands, Bitcoin tends to gain in value.
“Reports show that Bitcoin’s correlation with liquidity is higher than that of gold and stocks,” noted macroeconomic expert Lyn Alden.
China’s efforts to increase liquidity may contribute to Bitcoin’s long-term rise. However, in the short term, Bitcoin’s price movements can be significantly influenced by crypto-specific factors.
The recent rise in Bitcoin presents an important opportunity for investors to observe the relationship between cryptocurrencies and economic indicators.
“China’s efforts to open liquidity gates could be favorable for Bitcoin,” analysts suggest, expressing optimism about the market’s prospects.
Market observers predict that with the ongoing impact of economic data from China and the U.S., Bitcoin’s value may continue to rise.
