Bitcoin surged to nearly $65,000 following a positive day for Chinese stocks, which shrugged off mixed reactions to stimulus plans to close higher. BTC reached almost $64,900 during the late European morning, marking a 3.4% increase in the last 24 hours. The wider digital asset market, as indicated by the CoinDesk 20 Index, also saw a rise of around 2.9%.
Despite stimulus plans from the Chinese government falling below expectations, the Shanghai Composite Index finished the day over 2% higher. Augustine Fan, head of insights at SOFA, noted that “Chinese equities rebounded off the weekend disappointments, so risk sentiment will likely remain in ‘buy everything’ mode until further notice,” in a message to CoinDesk on Telegram.
