China joins interest rate cut club as Bitcoin hits $64,000

As China joined the interest rate cutter club by announcing a major stimulus package that included a cut in base interest rates, Bitcoin also rose by more than 1% to reclaim its hold on $64,000.
As of 7 a.m. on the 25th, Bitcoin was trading at $64,091 on CoinMarketCap, a global coin market relay site, up 1.14% from 24 hours earlier.
About an hour ago, Bitcoin rose by more than 2% to $64,586. The rise in Bitcoin on this day was due to the People's Bank of China's central bank announcing the daily benchmark interest rate of 1.2 trillion yen ($1.2 trillion) the previous day.
Not only did it cut interest rates by 0.5 percentage points, it also teased a cut in interest rates, meaning China will join the global interest rate cut.
With the recent interest rate cut of 0.5 percentage points (big cut) by the Bank of England, an era of global interest rate cuts has truly begun.
There is also high expectation in the market that the Fed will make another big cut.
This caused Bitcoin to rise. Experts said, "If Bitcoin breaks through $65,000, it will be in the upward trend.
"You can grab the Menthum," cryptocurrency media outlet CoinDesk reported.