Why is crypto up today? Bitcoin in a short squeeze as U.S-China talks fuel rally

Experts remain cautious despite the early week Bitcoin pump.

• The crypto market rebounded amid ongoing U.S.-China trade talks in London. 
• Swissblock cautioned of low liquidity and profit-taking if BTC fails to break above $112K. 

Bitcoin [BTC] briefly retested $110K on the 9th of June following a short squeeze that lifted the market, especially the DeFi segment and memecoins.

The renewed U.S.-China trade talks triggered the early week run-up, noted crypto tradingfirm QCP Capital. 

“BTC rallied from $107K to over $110K overnight on renewed optimism around US–China trade talks in London. Initial headlines suggested progress, sparking a euphoric move. But without concrete breakthroughs, global risk assets quickly pulled back.”