Overview
Bitcoin (BTC) began the week steady, hovering above $94,000 while traders await updates regarding the U.S.–China trade negotiations.
Market Summary
- Bitcoin opened with minimal changes above $94,500, down 1.2%, as traders looked forward to updates on trade discussions with the U.S.
- Major Asian markets were non-operational, resulting in lower trading volumes, but the Chinese yuan and regional currencies saw gains.
- Bitcoin is testing the critical $93K–$95K range with hopes of surpassing $100K if this resistance is resolved.
Quote
“XRP and Bitcoin bounced back from tariff shocks in April, yet haven’t shown significant upward movement,” stated Nick Ruck, director at LVRG Research, via Telegram. “Investors may be overly cautious regarding risk assets like crypto in light of the current U.S. macroeconomic situation, despite Bitcoin’s trend diverging from U.S. equities.”
Additional Insights
Recent discussions indicate potential warming of U.S.–China relations, as the Commerce Ministry in China is reviewing a U.S. proposal to restart negotiations. Over the weekend, President Trump suggested that Beijing is keen to finalize a deal.
In long-term perspectives, Ruck expressed optimism for a continued rise in crypto values driven by growing institutional adoption, alongside Real World Asset (RWA) launches. However, prediction markets show skepticism, estimating only a 21% chance for a trade deal before June.
Bitcoin faces notable resistance levels which could affect its trading momentum significantly. If Bitcoin can overcome the $95K–$98K resistance, it might pave the way for new price discoveries.
