BTC Starts the Week Above $94K as Market Awaits Progress on China Trade Deal

Bitcoin (BTC) opened the buying and selling week flat above $94,000 as merchants waited for information from Beijing on the progress of a commerce cope with the U.S.

The CoinDesk 20 (CD20), a measure of the efficiency of main digital property, was down 1.5%, buying and selling under 2,700.

“XRP and Bitcoin bounced back from the tariff shocks in April, but have yet to make a significant movement upwards,” Nick Ruck, director at LVRG Research, advised CoinDesk in a Telegram message. “Investors may be overly cautious about risk assets such as crypto due to the current US macroeconomic climate, despite Bitcoin’s trend breaking away from its correlation with US equities.”

Major markets in Asia had been closed on Monday, with Hong Kong, mainland China, Japan, and Korea closed, resulting in skinny liquidity and buying and selling volumes.

A possible thaw in U.S.–China commerce relations dominated macro headlines. Over the weekend, China’s Commerce Ministry stated it was reviewing a U.S. proposal to renew negotiations, whereas President Trump hinted Beijing “wanted to do a deal.”

“We remain optimistic that crypto prices will surge to new highs in the long term as institutional adoption continues to deepen with Real World Asset (RWA) launches and integrations with crypto-native platforms,” Ruck added.

Polymarket bettors are skeptical, nevertheless, with prediction markets giving a 21% probability {that a} commerce deal will probably be reached by June, and a 47% probability the White House will decrease tariffs by the finish of May.

Although particulars had been obscure on this potential commerce deal, markets took discover. The Chinese yuan strengthened to a six-month excessive close to ¥7.19, whereas regional currencies rallied.

The standout mover was the New Taiwan Dollar (NTD), which surged to a two-year excessive round NT$29.6 per U.S. greenback as final week ended.

The spike was pushed by $1.4 billion (NT$42.9 billion) in international fairness inflows and surging confidence in Taiwan’s tech sector after TSMC reported a 60% leap in quarterly income. Taiwan’s central financial institution intervened to curb volatility however denied political strain, calling the transfer market-driven.

BTC vary sure?

Further compounding BTC’s relative stagnation is that its encountering vital resistance as it checks key technical and on-chain ranges, in line with a latest report by Glassnode.

Bitcoin is struggling to interrupt by means of the $93,000–$95,000 vary, an space aligned with each the short-term holder price foundation and the 111-day transferring common, marking a vital battleground for market momentum, the report argues.

“These levels represent a critical inflection point that must be upheld. Failure to stabilize above these levels would push the price back into the consolidation range, and return many investors to a state of meaningful unrealized loss,” the report reads.

However, above $100,000, there may be much less sell-side strain as a consequence of a smaller quantity of cash in that vary. If bitcoin can overcome the resistance round $95,000-$98,000 it may enter a comparatively clear path towards new value discovery and presumably a brand new all-time excessive, the report added.