On October 14, the price of Bitcoin climbed to a two-week high, attracting speculators to enter the market, betting on China's easing measures and Trump's rising poll numbers to provide more support for Bitcoin.

As of the time of publication, the price of bitcoin has risen by nearly 3% within the day, quoting $64,711. The second-ranked ether price has also seen an increase, with a 24-hour increase of 2.77%.

Caroline Mauron, co-founder of Orbit Markets, pointed out that the market is currently taking a cautious wait-and-see stance on China's stimulus measures, which could be positive for Bitcoin. Previously, capital flowing out of Bitcoin into the Chinese stock market had put pressure on Bitcoin's price.

In addition to these temporary factors, investors are also seeing a boost in support for cryptocurrencies due to the improvement in Trump's poll results. Predictions of increased Trump odds in the market indicate a higher chance of Trump winning the election over Harris, thereby boosting the bullish sentiment in cryptocurrencies.

Benjamin Celermajer, Co-Chief Investment Officer at Magnet Capital, highlighted that the improvement in Trump's poll numbers will enhance market confidence in cryptocurrencies. Meanwhile, positive news such as the delayed repayment plan by Mt. Gox will further drive Bitcoin to rise more actively.

Last week, the bankrupt Mt.Gox crypto exchange postponed the deadline for repayment of its remaining assets by a year, easing concerns among investors about a significant influx of Bitcoin into the market leading to oversupply.

Mt.Gox is expected to return the stolen tokens to investors by October 31, 2025, with most of them being bitcoins. According to Arkhan Intelligence's estimates, these assets are equivalent to 2.9 billion US dollars.

Sean Farrell, the head of digital asset strategy at Fundstrat Global Advisors LLC, also emphasized that historical data shows that bitcoin typically experiences a strong seasonal rally in the second half of October.

Editor / jayden