Bitcoin jumped 2.8%, hitting a two-week peak at $63,890, driven by investor shifts following China's unclear stimulus plan. As China's economic efforts face skepticism, Bitcoin benefits from capital rotation away from Chinese stocks.
The U.S. presidential race is adding to the momentum, with Donald Trump's pro-crypto stance gaining support. Additionally, Mt. Gox’s decision to delay creditor repayments until 2025, reducing concerns about Bitcoin supply increases, has further bolstered confidence.