Bitcoin is experiencing a significant price surge, nearing the $70,000 threshold after breaking $65,000, driven by substantial liquidity injections and new stimulus measures from China. The People's Bank of China announced a $142 billion stimulus package, which has historically shown a strong positive correlation with Bitcoin's price. This move is expected to boost Asian stocks and potentially push Bitcoin higher. Research from 10X Research, led by Markus Thielen, forecasts that Bitcoin could reach $70,000 and potentially break its all-time high of $73,000 by late October. The Federal Reserve's concurrent stimulus efforts and increased stablecoin minting are also contributing to this bullish outlook for Bitcoin.