Mike Smith
2 days ago
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The cryptocurrency market has once again demonstrated its sensitivity to macroeconomic events. Bitcoin has broken a significant psychological and technical barrier, surpassing the $110,000 mark. This rise, which has amounted to more than 6% over the past month, occurred against the backdrop of positive signals coming from the sidelines of trade negotiations between the US and Chinese delegations, which are taking place in London. Optimism, albeit restrained, has provoked a noticeable increase in investor interest in high-risk assets.
After a tense six-hour round of consultations on Monday, the parties continued the dialogue the following day. The key topics of discussion were the issues of rare earth metal exports and mutual technological constraints - areas that determine control over the most important global supply chains. Although it is premature to talk about reaching specific agreements, the comments from the American side instilled hope in the markets. Donald Trump described the results of the meeting as "encouraging", but with the caveat that the dialogue with Beijing "is not easy". More positive were the words of the Secretary of the Treasury Scott Bessent, who called the meeting "good", and the head of the Department of Commerce Howard Lutnick, who described it as "fruitful". These verbal interventions proved to be a sufficient catalyst for growth. Against this background, the indicators of the first cryptocurrency demonstrated impressive dynamics. BTC quotes reached $ 109,496.50, and the daily trading volume increased by 44.1%, amounting to $ 51.99 billion. The total capitalization of the asset increased to $ 2.17 trillion. Technically, the price confidently bounced off a strong support zone in the range of $ 104,000 - $ 105,000. The sharp increase in trading volumes that accompanied this growth serves as an important confirmation of the strength of buyers and the return of confidence to the market. A successful breakout of the resistance level formed at the end of May opened the way for the asset to new heights.
It is noteworthy that the Chinese delegation, headed by Vice Premier He Lifeng, preferred to remain silent and refrained from public assessments. However, the market found one-sided positive signals enough to launch a wave of buying activity. In the context of ongoing geopolitical uncertainty, Bitcoin once again confirms its status as one of the leading indicators of the general mood of investors, sensitively reacting to the slightest changes in the balance of power on the world stage.
Now market participants are focused not only on charts and technical indicators, but also on the news feeds of world agencies. Any subsequent statement or political decision is capable of setting the direction of movement for the entire digital asset sector for weeks to come, emphasizing the new reality in which cryptocurrencies have become an integral part of the global financial landscape.
