Bitcoin Surges as Crypto Market Sees Positive shift
bitcoin climbed above $107,200 on Saturday, recovering from its recent low of $103,660. This upward movement has also benefited other major cryptocurrencies like Dash, Morpho, Bittensor, and Aster, wich all saw gains exceeding 8% in the past 24 hours.
The crypto marketS rebound is partly due to investors buying the dip after a meaningful selloff earlier this month. There’s also growing optimism about easing tensions between the U.S. and China. Markets are closely watching President Trump’s upcoming meeting with President Xi at the APEC summit.
Treasury Secretary Scott Bessent is set to meet his Chinese counterpart, He Lifeng, in Malaysia next week. Any de-escalation could reduce inflation and keep the Federal Reserve on its rate-cutting path, which is good news for both stocks and cryptocurrencies.
Bitcoin’s price hike could be due to investors buying the dip after most tokens entered a bear market, falling over 20% from their peak this month. The crypto market is also reacting positively to the potential easing of U.S.-China tensions.
However, there’s a risk that this rally might be a dead-cat bounce, where an asset temporarily recovers before continuing its downward trend. this happened last week when Bitcoin and altcoins rebounded after a crash but then resumed their decline.
For more details, check out CoinGecko.
