NEW YORK / LONDON (IT BOLTWISE) – Bitcoin prices posted a notable 2.6% increase after $319 million worth of shorts were liquidated. This development coincides with the recent US-China trade talks that took place ahead of the FOMC meeting. Markets are eagerly watching upcoming meetings between President Trump and President Xi Jinping, which could potentially further impact trade relations.
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The Bitcoin market has shown remarkable momentum in the last few days, with the price crossing the $114,501 mark. This increase is mainly due to the liquidation of short positions worth $319 million, which increased the pressure on the market and led to a significant price increase. CoinDesk Research technical analysis showed Bitcoin price rising from $111,453 to $113,572 with volume jumping 318% above average.
In parallel to these developments, important trade negotiations between the USA and China took place. The Chinese Embassy in the US reported constructive consultations between Chinese Vice Premier He Lifeng and US Treasury Secretary Scott Bessent. These discussions focused on issues such as maritime measures, agricultural trade and export controls. Both sides emphasized the importance of stable trade relations and the need for continued dialogue.
Another important aspect is the upcoming meeting between US President Donald Trump and Chinese President Xi Jinping on the sidelines of the APEC summit. This meeting is seen as crucial to improving trade relations between the two countries and potentially reducing existing tensions. President Trump expressed optimism about the results of the meeting and emphasized the importance of a successful trade agreement.
The upcoming Federal Open Market Committee (FOMC) meeting is also highly anticipated. Markets are particularly interested in how the Fed will shape its interest rate policy as this could have a significant impact on risky assets like cryptocurrencies. A clear course from the Fed could further influence the Bitcoin market, especially if interest rates are reduced or kept stable.
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