Bloomberg: Disappointing China fiscal stimulus and rising Trump odds could drive BTC higher this month

Disappointment over China's fiscal stimulus efforts and rising approval ratings for former U.S. President Donald Trump could drive Bitcoin higher this month, Yahoo Finance reported, citing Bloomberg. Caroline Mauron, co-founder of institutional liquidity provider Orbit Markets, noted that markets might take a disappointing China stimulus as positive news for Bitcoin. This is because "capital rotation from Bitcoin into Chinese equities was understood to be previously weighing on crypto prices," Mauron explained. In addition, data from prediction markets showcases that pro-crypto Republican candidate Donald Trump has been given higher odds than Vice President Kamala Harris to win the upcoming U.S. presidential election. Benjamin Celermajer, co-chief investment officer at digital asset investment management firm Magnet Capital, pointed out that this could bring more positive price impacts to Bitcoin. “Good news such as the Mt. Gox delayed repayment plan will be received more positively,” Celermajer added.