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06/09 15:04
The second round of US-China trade talks is in foc
The second round of US-China trade talks is in focus as the two nations aim to expand the scope beyond tariffs.
Bitcoin extends a short-lived bullish run over the weekend to its highest level since May 29.
Ethereum resumes the uptrend above $2,500 after briefly retracing to $2,476.
XRP edges down slightly, but the bullish outlook remains with the MACD indicator sustaining a buy signal flashed on Saturday.
Top US and Chinese officials are expected to meet at an undisclosed venue in London on Monday for the second round of trade talks aimed at de-escalating the high-stakes trade conflict that has morphed into a global economic dispute.
"The next round of trade talks between the U.S. and China will be held in the UK on Monday," a United Kingdom (UK) government spokesperson said on Sunday, as reported by Reuters. "We are a nation that champions free trade and have always been clear that a trade war is in nobody's interests, so we welcome these talks."
The two sides will attempt to extend the preliminary agreement reached during the May discussions in Geneva, which helped calm tensions between Washington and Beijing. Investors felt relief as markets regained strength following the April crash triggered by Trump's tariffs.
The officials expected to be at the discussion table include Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer, as well as a Chinese contingent led by Vice Premier He Lifeng.
Markets are abuzz with optimism, with Bitcoin holding steadily above $106,000, particularly since trade talks come after President Donald Trump talked with President Xi Jinping via a call last week.
Data spotlight: Bitcoin gains momentum despite spot ETF outflows
Bitcoin spot Exchange Traded Funds (ETFs) recorded negative flows last week, with a net outflow of $129 million. Fidelity's FBTC ETF led the outflows with $168 million. According to SoSoValue, net outflows totaled $48 million on Friday, significantly lower than the $278 million posted on Thursday.
On the other hand, Ethereum spot ETFs continued to post net inflows last week, accruing to $281 million. Friday's $25 million net inflow volume marked 15 consecutive days of positive flows, underpinning the growing investor confidence in the largest smart contracts token following the Pectra upgrade in May.
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