Bitcoin surged to a two-week high on mixed reactions to China’s latest stimulus efforts, fueling speculation that speculators will turn to cryptocurrencies instead of Chinese stocks.

Cryptocurrency move amid China stimulus disappointment

China is looking to revive its economy, but a highly anticipated weekend briefing did not specify exactly how much fiscal stimulus the government plans to inject. Economists remain unconvinced that officials are doing enough to combat the downturn, and a massive rally in Chinese stocks has begun to ease.

“Markets may be seeing China’s disappointing stimulus as positive news for bitcoin, as the capital shift from bitcoin to Chinese stocks is understood to have been negative for crypto prices in the past,” said Caroline Moron, co-founder of Orbit Markets, a provider of liquidity for crypto derivatives.