Bitcoin (BTC) opened the week of flat negotiations above $ 94,000 while merchants were waiting for news from Beijing on the progress of a trade agreement with the United States
The Coindesk 20 (CD20), a measurement of the performance of the main digital assets, fell 1.5%, a merchant below 2,700.
“XRP and Bitcoin bounted pricing shocks in April, but have not yet made an important movement up,” said Nick Ruck, director of LVRG Research, in Coindesk in a telegram message. “Investors can be too cautious about risk assets such as crypto due to the current American macroeconomic climate, despite the Bitcoin trend which stands out from its correlation with American actions.”
The main markets in Asia were closed on Monday, Hong Kong, Continental China, Japan and Korea, leading to thin liquidity and trading volumes.
A potential thaw in American trade relations – China dominated the major macro titles. During the weekend, the Chinese Ministry of Commerce said it was examining an American proposal to resume negotiations, while President Trump hinted that Beijing “wanted to conclude an agreement.”
“We remain optimistic that the prices of cryptography will move to new long-term heights while institutional adoption continues to deepen with the launching and integration of active assets of the world (RWA) with cryptocurrency platforms,” added Ruck.
Polymarket bettors are skeptical, however, with prediction markets giving 21% chance that a trade agreement is concluded by June, and 47% of the White House drops the prices by the end of May.
Although the details were vague on this potential trade agreement, the markets have noticed. The Chinese Yuan has strengthened at a six -month summit almost ¥ 7.19, while regional currencies have rallied.
The out -of -competition engine was the new Taiwan dollar (NTD), which reached a two -year summit around $ 29.6 NT per US dollar at the end of last week.
The peak was driven by $ 1.4 billion (42.9 billion dollars NT) in foreign capital entries and bankrupt in the Taiwan technological sector after TSMC said a 60% jump in quarterly benefits. The Central Bank of Taiwan intervened to curb volatility, but denied political pressure, calling the movement focused on the market.
BTC Range Bound?
According to a recent Glassnode report, the relative stagnation of the BTC is to complete the significant resistance because it tests key technical and chain levels.
Bitcoin is struggling to unravel the range from $ 93,000 to $ 95,000, an area aligned on the basis of the cost of the short -term holder and the 111 -day mobile average, marking a crucial battlefield for the momentum, supports the report.
“These levels represent a critical inflection point which must be maintained.
However, above $ 100,000, there is less pressure on the sale side due to a smaller volume of parts in this beach. If Bitcoin can overcome the resistance between $ 95,000 and $ 98,000, it could enter a relatively clear path to a new price discovery and possibly a new record, added the report.
