Investing.com – price hit a two-month high in early Friday trading, coming close to $67,000. The crypto asset later lost some of those gains, trading at $66,467.0 as of 11:18 ET (15:18 GMT), up 3% in the past 24 hours.
The original cryptocurrency is back to levels not seen since July, boosted by a stock market rally fueled by upbeat U.S. labor market data and economic stimulus moves from China.
The more immediate boost came from China, where authorities are reportedly considering injecting up to 1 trillion yuan into the country’s largest state banks to help revive the struggling economy.
Risk-correlated assets, including crypto and equity markets, gained momentum after China announced plans for further economic stimulus, and U.S. jobless claims fell by 4,000 to a four-month low of 218,000.
Moreover, China’s Politburo committed to ramping up fiscal spending and implementing “forceful” interest rate cuts to boost…
Read More
