Bitcoin hits resistance at $116,000, and bulls might not clear the barrier until Wednesday’s Fed announcement on interest rates and this week’s resolution of the US-China trade war. Key points: Bitcoin traders’ ability to overcome price resistance at $116,000 could hinge on Wednesday’s Fed decision on interest rates and this week’s US-China trade summit. Pro traders are distributing into BTC price rallies while retail-sized investors are buying the dips in spot, and also being liquidated in futures. Read more
Growing optimism surrounding a potential trade deal is the main catalyst for a recovery in investor sentiment ahead of Thursday’s tariff meeting, industry watchers told Cointelegraph. Cryptocurrency markets staged a recovery after a record $19 billion liquidation event, buoyed by signs of a temporary ceasefire in the US-China trade war. Bitcoin (BTC) briefly recovered above a two-week high of $116,400 on Monday, driven by investor expectations of two significant macroeconomic catalysts this week: the incoming Federal Open Market Committee’s (FOMC) interest rate decision on Wednesday and a potential trade deal between the US and China, which could come as soon as Thursday. Crypto investor sentiment recovered on Monday from “fear” to “neutral” territory after reports emerged that the US and China had reached a “preliminary” framework for an import tariff deal. Read more
Bitcoin price takes an unexpected turn to the downside even as stocks soar following the US-China trade deal announcement. Key takeaways: Bitcoin lags as investors shift toward stocks after the US and China strike a deal that could end the current trade war. Macroeconomic conditions are swinging away from gold investing and back to stocks. Read more
Bitcoin pauses as major assets catch up to the US-China trade deal announcement, with $102,000 on the cards as a BTC price support retest target. Key points: Bitcoin seeks consolidation after rapid gains as stocks and the US dollar surge on US-China trade deal news. Nearby order book liquidity forms potential targets for traders, which now include $102,000. Read more