"Bitcoin extended its winning streak on Monday, rising for a fifth consecutive session and breaking through the USD 115,000 resistance level, supported by improving risk sentiment. Expectations of progress in US-China trade negotiations boosted demand for risk assets, helping Bitcoin regain upward momentum. Investment flows support the market to a certain extent. US spot Bitcoin ETFs recorded USD 90 million in net inflows on Friday, although values remain relatively low."
"Meanwhile, liquidations over the past 24 hours showed short positions outnumbering longs by more than three-to-one, reinforcing the bullish trend. Geopolitics and monetary policy remain key tailwinds. President Trump and President Xi Jinping are expected to meet on Thursday in South Korea to finalize a trade framework. At the same time, markets are pricing in a 25bp Fed rate cut on Wednesday, with investors now focused on forward guidance from Chair Jerome Powell."
Bitcoin extended its winning streak to five sessions, surpassing the USD 115,000 resistance level as risk sentiment improved. Expectations of progress in US-China trade negotiations boosted demand for risk assets and contributed to Bitcoin's upward momentum. US spot Bitcoin ETFs recorded USD 90 million in net inflows on Friday, providing some market support despite relatively low overall values. Liquidations over the past 24 hours showed short positions outnumbering longs by more than three-to-one, reinforcing the bullish trend. Geopolitical developments, including an expected meeting between President Trump and President Xi Jinping, and softer inflation data that lifted easing expectations, supported prospects for further gains.
Read at London Business News | Londonlovesbusiness.com
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