"Bitcoin rose back above USD 110,000 on Monday, extending its rebound from last week's lows as risk appetite improved on hopes of a de-escalation in US-China trade tensions. The cryptocurrency has posted gains for three consecutive sessions as investors reacted to signs of renewed diplomatic engagement, improving investor sentiment and bolstering riskier assets like Bitcoin. US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng are set to meet in Malaysia this week,"
"Liquidations support the bullish momentum, with USD 332 million in short positions wiped out over the past 24 hours, compared with USD 161 million in longs. Adding to the bullish tone, Japan is accelerating digital-asset integration. The Financial Services Agency (FSA) is weighing reforms to allow domestic banks to hold Bitcoin and other crypto assets. The shift underscores rising institutional acceptance, supported by a domestic market that now counts more than 12 million crypto accounts."
Bitcoin climbed back above USD 110,000, completing a three-session rally as risk appetite improved on hopes of a US-China de-escalation. Renewed diplomatic engagement, including planned meetings between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng in Malaysia and a Trump-Xi meeting in South Korea, bolstered investor sentiment. Short liquidations amplified the rally, with USD 332 million of shorts closed versus USD 161 million of longs. Japan's Financial Services Agency is considering reforms to allow domestic banks to hold crypto, reflecting growing institutional acceptance and over 12 million domestic crypto accounts. Large US spot ETF outflows totaling USD 1.229 billion this week remain a significant headwind.
Read at London Business News | Londonlovesbusiness.com
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