After recent sharp sell-offs, the cryptocurrency markets have begun showing signs of recovery once again. Investor risk appetite has been volatile, swayed by increasing trade tensions between the US and China and the Trump administration’s plans for new export restrictions. Bitcoin tested the $110,000 level and has turned its direction back upwards.
SLIGHT RECOVERY AFTER SHARP CORRECTION IN CRYPTO MARKET
Bitcoin, which had dropped to $103,659 last week, is attempting to regain strength with a gradual increase since the start of the week. As of today, Bitcoin rose by 2.4% to $110,294 and is currently trading around $109,430. A similar recovery trend is evident in Ethereum, with the ETH price increasing by 2.76% to reach $3,384.90.
TRUMP’S STATEMENTS AND US-CHINA TENSION AFFECT MARKETS
Claims that the Trump administration is considering new restrictions on the export of US-software-based products to China weakened global risk perception. Conversely, Trump’s message that “an agreement on everything is possible” before his meeting with Chinese President Xi Jinping in South Korea created a short-term relief in the markets. Cryptocurrency investors are closely monitoring the impact of these developments on global liquidity and capital flows.
BITCOIN’S TECHNICAL OUTLOOK AND MARKET EXPECTATION
According to analysts, the $108,000 level forms a critical support area for Bitcoin in the short term. Should the price sustain above this level, the movement above $110,000 could extend to the $115,000 range. On the other hand, the weakening of global risk appetite may limit the short-term rallies of crypto assets.
You Might Also Like;
- We Selected 10 Series Similar to Stranger Things for Those Who Love It
- Where and How is Silver Used in Electric Vehicles?
- Hyundai Unveils Its Multi-Purpose Wheeled Robot
Follow us on TWITTER (X) and be instantly informed about the latest developments…
