Bitcoin (BTC) opened Trading Week flat over $ 94,000 when dealers waited for news from Beijing about progress with a trade agreement with USA
Coindesk 20 (CD20), a measure of the performance of larger digital assets, was down 1.5%and traded less than 2,700.
“The XRP and Bitcoin jumped back from the Toldeket in April, but have not yet made a significant movement upwards,” Nick Ruck, director of LVRG Research, told Coindesk in a telegram restraint. “Investors can be overly careful with risk assets like crypto because of the current US macroeconomic climate, despite Bitcoin’s tendency breaking away from its context of US stocks.”
Larger markets in Asia were closed on Monday, with Hong Kong, the Chinese mainland, Japan and Korea, leading to thin liquidity and trading.
A potential thawing in US trade relations in the United States – China dominated macro -headlines. Over the weekend, China’s Ministry of Commerce said it was undergoing a US proposal to resume negotiations while President Trump hinted at Beijing “would make a deal.”
“We remain optimistic that crypto prices will wave to new heights in the long term as institutional adoption continues to elaborate on the active (RWA) launches and integrations with crypto-native platforms,” Ruck added.
The polymarket -betors are skeptical, with prediction markets that give a 21% chance that a trade agreement will be reached in June, and a 47% chance that the White House will lower the duty in late May.
Although details were vague on this potential trade agreement, the markets took notice. The Chinese Yuan strengthened to a six -month high near 7.19 ¥, while regional currencies gathered.
The prominent mover was the new Taiwan dollar (NTD), which rose to a two-year high around NT $ 29.6 per year. US dollar when last week ended.
The tip was driven by $ 1.4 billion (NT $ 42.9 billion) in the influx of foreign equity and increasing confidence in Taiwan’s tech sector after TSMC reported a 60% jump in quarterly profits. Taiwan’s central bank intervened to limit volatility, but refused political pressure and called the moving market -driven.
BTC range bound?
Further composition of BTC’s relative stagnation is that it encounters significant resistance as it tests important technical and on-chain levels, according to a recent Glassnode report.
Bitcoin is struggling to break through the $ 93,000- $ 95,000 series, an area in line with both short-term holder cost base and the 111-day moving average that marks a crucial battlefield for Market Momentum, the report claims.
“These levels represent a critical bending point to be maintained. Lack of stabilization of these levels would push the price back in the consolidation area and return many investors to a state of meaningful unrealized loss,” the report reads.
Over $ 100,000, however, there is less pressure on the page due to a smaller volume coins in this interval. If Bitcoin can overcome the resistance around $ 95,000- $ 98,000, it could get into a relatively clear path towards new price discovery and possibly a new height all the time, the report added.
