5 Things to Watch as Bitcoin Eyes Record Close
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Bitcoin’s rally that started on Sunday, following some promising news on the US-China trade deal front, has only intensified during the Monday morning Asian trading hours as the asset blasted to a two-week peak.
Many altcoins have followed suit in an impressive manner, which has harmed over-leveraged short traders.
Recall that the primary cryptocurrency had calmed on Saturday after a volatile week, in which it recorded a few $6,000 to $8,000 moves. By the start of the weekend, though, it had returned to its consolidation phase of around $111,000, but the first signs of a potential breakout started to show up.
On Sunday, US Secretary Bessent hinted about a potential deal between his country and Beijing, which could be announced later this week after the presidents of the two superpowers meet in Asia.
This had an immediate impact on BTC’s price, which surged past $112,000 and $113,000. Its gains paused for several hours, but the bulls returned as Asia woke up earlier today. Bitcoin went on the run again, reclaiming $114,000 and $115,000 in the process. Its peak, at least for now, is at $115,600, which is the highest it has traded since October 14.
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