- Cryptocurrency prices improved after a week of declines, fueled by renewed hopes for progress in U.S.-China trade discussions.
- Cardano rose over 4% and XRP gained 3.5%, with other major digital assets like Dogecoin and Ethereum also moving higher despite ongoing negative retail sentiment.
- Bitcoin regained ground, increasing more than 3% to trade above $110,000 in the past 24 hours.
- Total digital asset market capitalization rebounded to approximately $3.8 trillion, marking a 2.7% increase in a single day.
- Companies linked to cryptocurrency, including Strategy and Coinbase, saw share price gains along with positive moves among some tech and digital asset equities.
Cryptocurrency prices recovered in early trading on Monday following a sharp downturn throughout the previous week. This upturn coincided with growing optimism about upcoming U.S.-China trade negotiations after recent comments from American and Chinese officials.
Major cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), saw prices move higher. Bitcoin increased by over 3% in the last 24 hours, returning above the $110,000 mark. Cardano (ADA) led gains among large-cap digital assets, jumping more than 4%, while XRP rose 3.5%. Dogecoin (DOGE) advanced 3.1% and Ethereum added 2.6%.
Market analysts pointed to comments from former President Donald Trump over the weekend, in which he expressed optimism about reaching a deal with China. Trump highlighted rare earths, fentanyl, and soybeans as key discussion points ahead of a planned meeting with Chinese President Xi Jinping in South Korea. Meanwhile, U.S. Treasury Secretary Scott Bessent confirmed he would likely meet his Chinese counterpart, Vice Premier He Lifeng, in the coming week (source, source). Market sentiment improved on the expectation that a threatened 100% tariff on Chinese imports may be delayed or avoided.
Market data showed a 2.7% increase in the total cryptocurrency market value over the past 24 hours, bringing the global value to about $3.8 trillion. According to data from CoinGlass, about $435 billion in positions were liquidated, with $162 million from long positions and $272 million from short bets.
In equities, shares of Strategy (MSTR), the largest corporate holder of Bitcoin, rose nearly 3% before the market opened. Bitmine Immersion Technologies (BMNR), which operates digital-asset treasuries, gained 4.7%. Coinbase (COIN) shares increased by 2.7%.
Other trending digital assets included Solana (SOL), which rose 1.8%, though retail sentiment around it remained negative. Meanwhile, digital asset company HSDT experienced an 18% drop in share price, despite extremely bullish retail interest.
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