Bitcoin Struggles at $100K Amid US-China Trade Talks and Market Shifts

In a significant turn of events, the recent “tit-for-tat tariff” agreement signed in Geneva between China and the United States has temporarily halted retaliatory tariffs for a 90-day period, leading to a notable increase in trans-Pacific shipping volumes . This surge not only enhances port operations but also diverts capital from the crypto market into traditional equity markets, inducing short-term pressure on cryptocurrencies. Analysis by Bitunix observes that, with decreasing market uncertainty and a decline in recession fears, risk appetite is gradually returning. Consequently, Bitcoin’s (BTC) price has decreased from a peak of $105,842.1 to $100,688, currently settling at $102,602. Additionally, BTC and ETH experienced a combined net inflow of $5.2 million yesterday. The liquidation heatmap reveals intense trading activity around the $105K level. A break above $103K may indicate a temporary target of $105K. Stakeholders should remain vigilant regarding the US-China trade talks and upcoming economic data, adjusting their positions accordingly while prioritizing risk management. Source: https://en.coinotag.com/breakingnews/bitcoin-struggles-at-100k-amid-us-china-trade-talks-and-market-shifts/